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Mortgage Market Update
My Mortgage Company
Colin Whitermore
Thursday, August 27, 2026
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How much equity have you built up? |
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Hello, and thanks for staying connected. I wanted to share something I see homeowners miss all the time—and it could benefit your financial picture.
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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 Awareness
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—that's the difference between what your home is worth today and what you still owe on your mortgage. Many homeowners don't realize how much equity they have until they need it. That equity can open doors: you might qualify for a cash-out refinance, a home equity line of credit, or a home equity loan. Whether you're thinking about home improvements, consolidating debt, or funding a major life event, understanding your equity is the first step. The best part? You don't need to do anything complicated to find out. I can help you get a clear picture of where you stand and what options might make sense for your situation. Reach out and we can do a quick equity assessment with no obligation.
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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
Colin Whitermore
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