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Mortgage Market Update
My Mortgage Company
Stephanie Pena - FD
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 walk you through something that often flies under the radar: the equity sitting in your home right now.
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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 Check
Your home equity could unlock more than you think
If you've owned your home for a few years, you likely have built up equity — the difference between what your home is worth and what you still owe. That equity can be a powerful financial tool. Some homeowners tap it to fund renovations, pay down debt, or cover major expenses. Others use it to refinance into better loan terms. The key is understanding what you have and whether accessing it makes sense for your situation. Every home and financial picture is different, which is why it's worth having a real conversation about your options. I'd love to talk through what equity you may have built and whether it could work for you. Let's take a look at your equity and what it might mean for your 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
Stephanie Pena - FD
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