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Mortgage Market Update
My Mortgage Company
Urban Bloom
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there. I'm checking in this week with something a lot of homeowners overlook—the real value they've already built in their homes.
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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
Your home equity is money you can actually use
A lot of people don't realize that as you pay down your mortgage, you're building real wealth. That difference between what your home is worth and what you owe—that's your equity, and it's yours. Once you have enough of it, you have options: you could refinance into better terms, tap into it for a home improvement project, or even use it as a financial cushion if life throws you a curveball. The catch is that equity takes time to build, which is why starting sooner rather than later matters. If you've owned your home for a few years or made a solid down payment, you might have more equity than you think. I'd love to walk you through what you're sitting on and what your options might look like. Let's take a look at your home's equity and talk about what makes sense for your 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
Urban Bloom
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