Mortgage Market Update

My Mortgage Company

Rowley Mesa

Thursday, August 27, 2026

What's your home equity actually worth?

Hi there. I'm sharing some thoughts on a topic that comes up more often than you'd think—and it often surprises people what they can do with it.

National Mortgage Rates · August 20, 2026

30-Year Fixed

6.65%

FHA 30-Year

6.53%

VA 30-Year

6.32%

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.

Home Equity

Your home's equity could work harder for you

If you've been in your home a few years, you likely have built up equity—the difference between what your home is worth and what you owe on it. That equity sits there quietly, but it doesn't have to. Depending on your situation, you might tap into it through a refinance, a home equity line of credit, or a second mortgage to fund renovations, pay off debt, or cover a major expense. The key is understanding which option makes sense for your goals and your finances. Every homeowner's situation is different, and the right move depends on your timeline, credit, and how much you'd like to borrow. I'd be happy to walk through your options and show you how much equity you're actually sitting on.

Let's talk about what your home equity could do for you—just reach out whenever you're ready.

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.

Tips for Homeowners

Understanding Mortgage Points

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Rowley Mesa

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