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Mortgage Market Update
My Mortgage Company
David Schindel
Thursday, August 27, 2026
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What your home equity can do for you |
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Hi there — this week I want to talk about something a lot of homeowners sit on without realizing its potential. Here's what you should 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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Equity & Refinancing
Your home equity might be working against you
If you bought a few years ago, you likely have built up equity as your home's value has changed and you've paid down your loan. That's great — but here's what many homeowners miss: if you're still paying the same interest rate you locked in years ago, that equity isn't necessarily working for you. Some borrowers find that a refinance makes sense if rates have moved favorably or if they want to tap into their equity for something important — a renovation, education, or consolidating other debt. The key is understanding what you actually have and whether a move makes financial sense for your situation. Every home and every loan is different, so there's no one-size-fits-all answer. I'd be happy to walk you through what your equity position looks like today and whether a refinance is worth exploring.
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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
David Schindel
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