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Mortgage Market Update
My Mortgage Company
Stephanie Devlin
Thursday, August 27, 2026
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How much equity are you sitting on? |
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Home ownership isn't just about having a place to live—it's an investment that grows over time. This week, let's talk about what that growth means for you.
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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 Check
You might have more home equity than you think
If you've owned your home for a few years and made regular payments, you've likely built up equity—the difference between what your home is worth and what you still owe. That equity can be a powerful financial tool. Some borrowers use it to access funds for home improvements, education, or other goals through a refinance or a home equity line of credit. Others simply appreciate knowing they have a cushion of ownership. The first step is understanding where you stand. A quick conversation about your home's current value and your loan balance can show you exactly what equity you've built. This matters because equity is often invisible until you need it—and by then, it's too late to plan. I'd be happy to give you a clear picture of your situation. Reach out anytime if you'd like to talk through your equity options.
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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
Stephanie Devlin
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