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Mortgage Market Update
My Mortgage Company
Ivan Benevich
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hello! This week I'm sharing something many homeowners overlook—and it could open up some useful financial doors.
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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 may have built more equity than you think
If you've owned your home for a few years, there's a good chance you have equity sitting in it—from your down payment, monthly payments, and any appreciation in your home's value. That equity can be a real financial tool. Some people use it to fund home improvements, consolidate debt, or cover major expenses. Others tap into it strategically to refinance into better loan terms. The first step is simply knowing what you have. A quick home valuation and a look at your loan balance will show you exactly where you stand. I can help you understand your options and whether accessing your equity makes sense for your situation right now. Let's talk about your home's equity and what it could mean 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
Ivan Benevich
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