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Mortgage Market Update
My Mortgage Company
Elias Espejo
Wednesday, September 2, 2026
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What your home equity could do for you |
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Hi there. This week I want to talk about something many homeowners overlook: the real value of the equity they've built.
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National Mortgage Rates · August 27, 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 & Cash-Out
Building equity? Here's what it could mean for you
If you've owned your home for a while, you've likely built up equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. Depending on your situation, it can become a tool for major expenses, home improvements, debt consolidation, or other financial goals. The key is understanding what you qualify for and whether tapping into it makes sense for your specific needs right now. I'd be happy to walk you through your options and what the numbers might look like. Let's talk about whether your equity could work for you—just reach out.
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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
Elias Espejo
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