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Mortgage Market Update
My Mortgage Company
Fernando Radillo
Thursday, August 27, 2026
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How much equity do you have in your home? |
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Hello from the office. This week I want to talk about something that's quietly building value for you every time you make a payment.
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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 Basics
Your home's equity is real money—here's why it matters
If you've been paying your mortgage for a while, you likely have equity built up in your home. That's the difference between what your home is worth and what you still owe. Most people don't think much about it until they need cash or want to tap into it—but understanding your equity now can open doors later. You might use it to renovate, cover a major expense, or refinance. The more equity you have, the more options you have. If you're not sure how much equity you've built, or you're curious what you could do with it, I'd love to walk you through the numbers and possibilities. Reach out anytime—I can give you a clear picture of your home's 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
Fernando Radillo
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