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Mortgage Market Update
My Mortgage Company
Darryl Taylor
Thursday, August 27, 2026
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How much equity do you have right now? |
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Hello! I wanted to share something I discuss with homeowners all the time—and it's often eye-opening.
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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 owe on your mortgage. That equity can be a powerful financial tool. Some homeowners use it to fund home improvements, pay off high-interest debt, or cover major expenses. Others refinance to access it when rates make sense. The first step is understanding how much equity you actually have. I'd recommend getting a rough estimate of your current home value and comparing it to your loan balance. Knowing this number helps you make smarter decisions about your home and your finances. Curious what your equity might look like? Reach out and we can take a quick look together.
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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
Darryl Taylor
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