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Mortgage Market Update
My Mortgage Company
Nolan Kitkoski
Thursday, August 27, 2026
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What's your home equity worth right now? |
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Home equity isn't just a number on paper—it's real money you've built. Here's why it matters to you and how to think about using it smartly.
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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 Check
Your home equity might be worth more than you think
If you've owned your home for a few years, you likely have built up equity—the difference between what your home is worth and what you still owe. That equity can be a powerful financial tool. Some borrowers use it to fund home improvements, pay off higher-interest debt, or cover major life expenses through a cash-out refinance or home equity loan. Even if you're not ready to tap into it now, knowing what you have gives you options and peace of mind. Home values and equity shift over time, so it's worth checking in periodically. I'd be happy to walk you through what your equity position looks like and discuss whether tapping into it makes sense for your situation. Let's talk about your equity and what it 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
Nolan Kitkoski
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