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Mortgage Market Update
My Mortgage Company
Janice M Williams
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there—this week I want to circle back to something that matters more than many homeowners realize.
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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 Basics
What your home equity means for your financial future
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Over time, that equity becomes real wealth you can tap into. Whether you're thinking about a major home project, consolidating debt, or planning ahead, understanding your equity position is the first step. I often talk with homeowners who don't realize how much equity they've already built, or what options that opens up for them. If you're curious where you stand, I'd be happy to walk through it with you—no pressure, just clarity. Let's talk about 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
Janice M Williams
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