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Mortgage Market Update
My Mortgage Company
Rob Garcia
Thursday, August 27, 2026
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How much equity do you have now? |
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Welcome back. This week I want to help you see an asset you may already own but haven't thought much about.
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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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Home Equity
You might have more equity than you realize
If you've owned your home for a few years and made regular payments, you're likely building equity—the difference between what your home is worth and what you owe on your mortgage. Many homeowners don't realize how much equity they've accumulated, especially if their home's value has increased. That equity can be useful: it can support a refinance, a home equity line of credit, or a cash-out refinance if you need funds for home improvements, education, or other goals. The first step is understanding what you have. I'd be happy to walk through a quick equity check with you—no obligation, just clarity on your options. Let's talk about your equity and what it could mean for your financial 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
Rob Garcia
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