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Mortgage Market Update
My Mortgage Company
Kristina Graham
Thursday, August 27, 2026
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What's your home equity worth to you? |
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Hi there—this week I want to focus on something many homeowners overlook: the equity sitting in their home. Whether you're thinking about your future or just curious where you stand, it's good to know.
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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 equity is a tool—here's how
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 on your mortgage. That equity can work for you in several ways: you might refinance into better terms, tap into it with a home equity line of credit or loan to fund repairs or other goals, or simply let it keep growing as you pay down your principal. The key is understanding your options and whether any of them make sense for your situation right now. There's no rush, but it's worth knowing what you have available. I'd be happy to walk you through what your equity position looks like and what might be realistic for your goals. Reach out if you'd like to talk through your options—there's no obligation.
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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
Kristina Graham
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