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Mortgage Market Update
My Mortgage Company
Erica Portillo-Nuno
Thursday, August 27, 2026
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How much equity do you have in your home? |
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Hi there. This week I want to talk about something that quietly grows in the background of homeownership—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 equity can work harder than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe on it. Over time, this can become a real financial asset. Some homeowners tap into their equity through refinancing or a home equity line of credit when they need cash for major expenses, renovations, or consolidating debt. The key is understanding what equity you have and whether accessing it makes sense for your situation. I find that many people don't realize how much equity they've built up, or they're unsure whether it's the right move. That's where a conversation helps. Let's talk about your options and what might work for your goals. Curious about your equity? Reach out and we can explore what you've built.
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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
Erica Portillo-Nuno
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