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Mortgage Market Update
My Mortgage Company
Annika Harris
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hello,
Each week I share a mortgage topic that might help you make a smarter decision about your home. This week, let's talk about equity.
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National Mortgage Rates · August 20, 2026
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Source: Freddie Mac PMMS & Optimal Blue via FRED
Rates shown are national averages and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Equity Check
Your home's equity might be worth more than you think
If you've owned your home for a few years, you likely have built up equity—the difference between what your home is worth and what you owe on your mortgage. This equity isn't just a number on paper. It can be a financial tool if you need it: you might tap into it through a refinance, a home equity line of credit, or a second mortgage to cover major expenses, renovations, or consolidate debt. The first step is understanding how much equity you actually have. If you haven't checked in a while, now is a good time to get a realistic picture of your home's current value and what that means for your options. I'd be happy to walk you through this—no obligation. Reach out, and let's talk about what your equity can do for you.
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Tip of the Week
Your mortgage interest may be tax-deductible if you itemize. Check with your tax professional to see if it benefits you.
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Tips for Homeowners
Understanding Mortgage Points
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1.
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One mortgage point equals 1% of your loan amount. Paying points ("buying down the rate") reduces your interest rate — typically 0.25% per point, though this varies by lender and market.
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2.
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Calculate your break-even: divide the cost of the points by your monthly savings. If it takes 4 years to break even and you plan to stay 10 years, buying points makes sense.
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3.
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Points paid on a home purchase are generally tax-deductible in the year paid (if you itemize). Points on a refinance must be deducted over the life of the loan.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Annika Harris
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