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Mortgage Market Update
My Mortgage Company
Christopher Edwards
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi everyone. This week I'm touching on a topic that comes up more often as borrowers settle into their homes: the equity you're building and what you can actually do with it.
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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 & Cash Out
Your home's equity might be worth more than you think
If you've owned your home for a few years, you're likely building equity with every mortgage payment—plus any appreciation in your home's value. That equity can be a financial tool. Some borrowers tap it through refinancing or a home equity line of credit when they need funds for renovations, education, or other big expenses. The key is understanding what you have and whether using it makes sense for your situation. It's not an obligation, just an option worth knowing about. If you're curious whether you've built enough equity to make this worthwhile, or just want to know your home's current value, I'm happy to take a quick look. No pressure—just clarity. Reach out and we can talk through your equity position and what options might be available to 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
Christopher Edwards
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