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Mortgage Market Update
My Mortgage Company
Carlos Munoz
Thursday, August 27, 2026
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What's your home equity worth right now? |
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Hello! This week we're talking about something many homeowners overlook: the equity sitting in their home.
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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 Awareness
Your home's equity might be worth more than you think
If you've been a homeowner for a few years, you likely have equity built up—either from making payments, home appreciation, or both. That equity is real money, and it can work for you in ways you might not have considered. Some folks use it to fund home improvements, consolidate debt, or handle unexpected expenses. The key is understanding what you have before you need it. I encourage homeowners to get a rough sense of their current home value and outstanding loan balance. You don't need a formal appraisal; online estimates give you a ballpark. Knowing your equity position helps you make smarter financial decisions down the road. If you'd like to talk through your specific situation or explore what options might be available to you, I'm here to help. Let's discuss your home equity and what it could mean for your financial goals.
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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
Carlos Munoz
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