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Mortgage Market Update
My Mortgage Company
Ron Gardiner
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to focus on something that many homeowners overlook until they need it: the equity building quietly in their homes.
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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
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 the mortgage. This equity is real wealth sitting in your property, and it can work for you in several ways. Whether you're thinking about a major renovation, funding education, or consolidating debt, knowing your equity position is the first step. Home values have shifted in many markets, so the number you remember from a few years ago may not be current. I'd encourage you to get a clear picture of where you stand—it often opens up options you didn't realize were available. Let's talk about your home's equity and what it might mean for your financial goals.
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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
Ron Gardiner
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