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Mortgage Market Update
My Mortgage Company
Rich Hanlin
Thursday, August 27, 2026
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What's your home equity really worth? |
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Home equity is one of the biggest financial assets most of us build over time. This week I'm walking you through why it matters and how to think about it clearly.
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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's equity might be worth more than you think
If you've been paying your mortgage for a few years, or if your home's value has climbed, you likely have equity built up. That equity can be a powerful tool—whether you want to refinance into better loan terms, pull cash out for a large project, or consolidate debt at a lower rate. The tricky part is knowing what you actually have available and whether tapping into it makes sense for your situation. I help clients understand their equity position and explore options without pressure. It's worth a conversation if you're wondering whether your home's value or your paydown could work for you right now. Let's talk about what your equity means for your goals.
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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
Rich Hanlin
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