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Mortgage Market Update
My Mortgage Company
Harris Nightingale (Old)
Thursday, August 27, 2026
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Your home equity is working for you |
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Hi there. This week I want to talk about something that happens quietly in the background of homeownership — and often goes unnoticed until you need it.
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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 Building
What your home equity can do for you
As you pay down your mortgage, you're building equity — the difference between what your home is worth and what you owe on it. That equity can become a real financial tool. Some homeowners tap into it through a refinance or a home equity line of credit when they need cash for repairs, education, or other goals. Others simply let it grow, knowing it's there as a safety net. The point is, equity isn't just a number on paper — it's real wealth you're creating month after month. If you're curious about how much equity you might have or what options could make sense for your situation, I'd love to walk through it with you. Get in touch, and we can talk about your equity and what it means for your financial picture.
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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
Harris Nightingale (Old)
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