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Mortgage Market Update
My Mortgage Company
StorBelow
Thursday, August 27, 2026
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Do you know how much equity you've built? |
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This week, I want to remind you of something many homeowners overlook: the equity sitting in your home right now. It's worth understanding what you have.
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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
You might have more equity than you think
If you've owned your home for a few years, or if your neighborhood has appreciated, there's a good chance you've built more equity than you realize. Equity is the difference between what your home is worth today and what you still owe on your mortgage. It matters because it opens doors—to refinancing options, home equity lines of credit, or cash-out refinances that can fund renovations, pay down debt, or cover life expenses. The first step is knowing where you stand. A quick home valuation and a look at your loan balance can tell you exactly how much equity you have to work with. If you'd like to explore what's possible with your home's equity, I'd be happy to walk you through your options. Let's talk about what your equity could do 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
StorBelow
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