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Mortgage Market Update
My Mortgage Company
Seth M Reeves
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 that's quietly working in your favor every single month—your home equity.
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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
Your home is probably worth more than your loan
One of the best parts of owning a home is that every mortgage payment builds equity—the difference between what your home is worth and what you owe on it. Over time, as you pay down your loan and your property appreciates, that equity grows. If you've owned your home for a few years, you may have built up more equity than you realize. That equity can open doors: some borrowers use it to refinance into better terms, cover major expenses, or fund home improvements that increase value even further. The longer you own and the more you pay down, the more options you have. I'd love to help you understand how much equity you might have and what it could mean for your financial situation. Let's talk about your home's equity and what options might work 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
Seth M Reeves
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