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Mortgage Market Update
My Mortgage Company
Shantian Simmons
Wednesday, September 2, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to talk about something that grows quietly in the background of homeownership—and can unlock real opportunities when you need it.
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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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Home Equity 101
What your home's value means for your finances
As a homeowner, you're building something valuable with every payment you make. The difference between what your home is worth and what you still owe is called equity—and it's one of your most powerful financial tools. You can tap into it through refinancing, a home equity loan, or a line of credit when you need funds for repairs, education, or other major expenses. The more equity you build, the more options open up. It's worth understanding how much equity you have right now and what it could do for you down the road. If you're curious about your current position or exploring what might be possible, I'd love to walk you through it. Reach out anytime—no obligation—and I can help you see your equity picture clearly.
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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
Shantian Simmons
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