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Mortgage Market Update
My Mortgage Company
Mashell Carmack
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hello,
This week I want to talk about something I see homeowners overlook too often: their own equity. Let me explain why it matters.
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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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Home Equity
The equity in your home might be worth more than you think
If you've owned your home for a few years, you likely have built equity—the difference between what your home is worth and what you still owe. Many homeowners don't realize how much equity they've accumulated, especially if their home's value has grown or they've paid down their loan balance steadily. That equity can be a real financial tool: it opens doors to refinancing, home equity lines of credit, or cash-out options if you have a major expense or goal ahead. Understanding what you have is the first step. I'd be happy to walk you through a quick equity check and explore what options might make sense for your situation. Reach out anytime—I can give you a clear picture of your equity and what it could mean 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
Mashell Carmack
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