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Mortgage Market Update
My Mortgage Company
Open Door Lending
Thursday, August 27, 2026
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What's your home equity worth right now? |
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Hi there,
This week I want to walk you through something many homeowners overlook—the real value locked inside their home.
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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 is working harder than you think
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe on it. But equity does more than sit there. If you've owned your home for a few years, you may have enough equity to tap into for major expenses, home improvements, or other goals. The sooner you understand how much equity you have and what your options are, the sooner you can put it to work. Whether you're thinking about a renovation, consolidating debt, or just want to know where you stand, it's worth a conversation. I can help you figure out what that equity means for your situation and whether it makes sense to use it. Let's talk about what your equity could do 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
Open Door Lending
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