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Mortgage Market Update
My Mortgage Company
Hargrave Home Loans
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 want to talk about something many homeowners overlook, even though it's quietly working in their favor. Let me explain.
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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's equity is real money—here's why it matters
A lot of homeowners don't realize how much equity they've built up over time. Every mortgage payment you make chips away at what you owe, and if your home's value has gone up, that's equity too. The reason this matters is simple: equity gives you options. You might refinance into better loan terms, tap it for a major expense through a cash-out refinance, or use it as a down payment toward a second property. The first step is knowing what you have. If you've been in your home for a few years, I'd encourage you to get a rough sense of your current equity position. It's easier than you think, and it opens up conversations about what's actually possible for you financially. Reach out if you'd like to talk through your equity situation and what options might make sense.
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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
Hargrave Home Loans
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