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Mortgage Market Update
My Mortgage Company
William Foster Harpster
Thursday, August 27, 2026
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What's your home's equity worth right now? |
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Hi there,
This week I want to talk about one of the most underutilized financial tools homeowners have—and it might already be sitting in your own house.
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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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Home Equity
Your home's value might be working harder than you think
If you've owned your home for a few years, you likely have equity built up—the difference between what your home is worth and what you still owe. That equity is real money, and it can be a powerful tool when you need it. Whether you're facing a major expense, want to renovate, or need to consolidate debt, a home equity line or loan lets you borrow against what you've already paid for. The rates on these products are often better than credit cards or personal loans, and the interest may even be tax-deductible. The key is using equity strategically and not overextending yourself. I'd love to walk you through what you might have available and how it could work for your situation. Reach out and we can talk through whether tapping your equity makes sense for what you're planning.
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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
William Foster Harpster
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