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Mortgage Market Update
My Mortgage Company
Jorge Ramirez
Wednesday, September 2, 2026
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How much equity are you sitting on? |
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Hi there. I've noticed a lot of my clients don't realize how much financial power they've already built into their homes—and that's worth a conversation.
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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 & Refinancing
Your home's equity can work for you
If you've been in your home a few years, you've likely built equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper; it's real financial flexibility. You can tap it through a cash-out refinance, a home equity line of credit, or a home equity loan to fund renovations, pay off debt, or handle unexpected expenses. The key is understanding your options and whether the timing makes sense for your situation. Every homeowner's equity story is different, and so is the best way to use it. Let's talk about whether your equity could work harder for you right now.
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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
Jorge Ramirez
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