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Mortgage Market Update
My Mortgage Company
David Martel Powered By Barrett Financial Group
Thursday, August 27, 2026
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How much equity do you actually have? |
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Hi there. This week I want to talk about something that builds quietly in the background of homeownership but deserves more attention than it usually gets.
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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 equity is worth understanding
If you've owned your home for a few years, you've likely built up equity—the difference between what your home is worth and what you still owe on your mortgage. This matters because equity can become a financial tool when you need it. Some borrowers tap into it for home improvements, education, or consolidating debt. Others simply let it grow as a safety net. The key is knowing roughly what you have and thinking ahead about whether you might want to access it down the road. Home values and paydown both play a role, so the picture changes over time. I'd be happy to walk you through where you stand and what your options might look like. Reach out if you'd like a straightforward conversation about your 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
David Martel Powered By Barrett Financial Group
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