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Mortgage Market Update
My Mortgage Company
Ed - Regional Mortgage
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'm sharing something a lot of homeowners overlook: how much of their home they actually own outright. Let's break it down.
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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
You might have more home equity than you think
If you've been paying your mortgage for a few years, or if your home's value has shifted in your neighborhood, there's a good chance you've built more equity than you realize. Equity is the difference between what your home is worth and what you still owe on it—and it can be a powerful financial tool. Some borrowers use it to refinance, consolidate debt, or fund home improvements. Others simply appreciate knowing they own more of their home outright. The first step is understanding where you stand. A quick conversation about your current loan balance, your home's estimated value, and your goals can reveal options you might not have considered. If you'd like to explore what equity you may have and how to use it wisely, I'm here to help. Reach out if you'd like to talk through your home equity situation.
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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
Ed - Regional Mortgage
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