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Mortgage Market Update
My Mortgage Company
Miguel Morales
Thursday, August 27, 2026
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Have you checked your home equity lately? |
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Hi there—welcome back to this week's newsletter. Today I want to talk about something that's often hiding in plain sight: the equity you've already built 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's equity might be worth more than you think
If you've owned your home for a few years, there's a good chance you've built up equity—the difference between what your home is worth and what you still owe on your mortgage. That equity can be a powerful financial tool. Some homeowners use it to fund home improvements, pay down debt, or cover major expenses through a cash-out refinance or a home equity line of credit. Others simply prefer to keep building it as a long-term wealth strategy. The key is knowing what you have to work with. A quick conversation about your current loan balance and a rough estimate of your home's value can give you clarity on your options and whether now might be the right time to tap into that equity—or keep letting it grow. Let's talk about your home's current equity and what options might make sense for your situation.
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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
Miguel Morales
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