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Mortgage Market Update
My Mortgage Company
Elizabeth Cassidy
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 touch on something that often gets overlooked: the equity you're building in your 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 Check
Your home equity could open new doors
If you've owned your home for a few years, you've likely built up some equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. Depending on how much you've accumulated, it can be a real financial tool. Some borrowers use it to refinance into better loan terms, others tap into it for major expenses or home improvements. The key is understanding what you have and what your options are. Every situation is different, and what makes sense for one homeowner might not for another. I'd love to talk through where you stand and what might work for your goals. Let's discuss your equity and what it could mean for you—reach out anytime.
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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
Elizabeth Cassidy
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