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Mortgage Market Update
My Mortgage Company
Brent Busch
Thursday, August 27, 2026
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How much equity do you have right now? |
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Hi there. This week I want to remind you of something that's probably growing in the background—your home equity. It might be worth exploring.
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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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Equity Building
Your home is working harder than you think
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. But equity does more than sit there. It's a financial tool you can tap into when life happens. Whether you need to cover a major repair, fund education, or consolidate debt, a home equity loan or line of credit lets you borrow against the value you've built, often at a better rate than other borrowing options. The longer you've owned your home or the more you've paid down your loan, the more options open up to you. If you're not sure how much equity you have, or whether it makes sense to use it for your situation, I'd love to walk you through your options. Let's talk about what your equity could mean for you.
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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
Brent Busch
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