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Mortgage Market Update
My Mortgage Company
Wally Simpson
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 remind you of something many homeowners overlook—the real asset you're building.
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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 & Home Value
Your home's equity is working for you
As a homeowner, you're building something valuable every time you make a mortgage payment. That's equity—the difference between what your home is worth and what you still owe on it. Over time, as you pay down your loan and your home appreciates, that equity grows. The smart part? You don't have to wait until you sell to use it. Many borrowers tap into their equity for major expenses, home improvements, or consolidating debt through refinancing or a home equity line of credit. If you've owned your home for a few years, you may have built up more equity than you realize. It's worth understanding what options you have and how they might fit your situation. Let's talk about whether your equity could work harder 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
Wally Simpson
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