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Mortgage Market Update
My Mortgage Company
Mutual Point Insurance
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Welcome back. This week I want to talk about something many homeowners overlook until they need it.
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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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Home Equity
Your home may be worth more than you think
If you've owned your home for a few years, or if your neighborhood has appreciated, you likely have equity built up. That's the difference between what your home is worth and what you still owe on your mortgage. Equity isn't just a number on paper—it's real financial flexibility. You can borrow against it for major expenses, renovations, or consolidating debt. Some people don't realize they have options until a life event forces the conversation. A quick conversation about your situation can show you what's actually available to you and whether tapping equity makes sense right now. I'm happy to run a quick analysis of your home's value and equity position—no obligation.
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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
Mutual Point Insurance
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