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Mortgage Market Update
My Mortgage Company
Kirk Alvarez
Wednesday, September 2, 2026
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Do you know how much equity you have? |
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Every month you pay your mortgage, you're building equity in your home. But many homeowners aren't sure what that actually means or what they can do with 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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Equity & Cash Out
How much equity are you sitting on?
If you've owned your home for a few years, there's a good chance you've built up equity—that's the difference between what your home is worth and what you still owe on your mortgage. That equity can be a real financial tool. Some homeowners tap into it to pay off debt, fund home improvements, or cover major expenses. The way you access it matters, though, and the timing can affect your costs. I always recommend taking a clear look at how much equity you have and what makes sense for your situation. It's worth a conversation—no obligation, just a chance to see what options might work for you. Let's talk about your home's equity and what you might do with it.
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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
Kirk Alvarez
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