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Mortgage Market Update
My Mortgage Company
Matthew Young CRM
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hello, and welcome back to this week's note. I want to bring up something many homeowners overlook—and it might be working in your favor right now.
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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
Your home might be worth more than you think
If you've owned your home for a few years, you may have built equity without even realizing it. Equity is the difference between what your home is worth today and what you still owe on your mortgage. As home values shift and you pay down your loan balance, that number grows. The reason this matters: that equity can be a powerful financial tool. Whether you're thinking about a major renovation, helping with college costs, or consolidating debt, there are ways to access your equity if you need it. The first step is understanding how much you actually have. I'd be happy to walk you through a no-pressure conversation about your home's current value and what options might make sense for your situation. Reach out and let's talk about what your home equity could mean for you.
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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
Matthew Young CRM
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