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Mortgage Market Update
My Mortgage Company
Simply Laundry
Thursday, August 27, 2026
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What your home equity can do for you |
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Hello,
This week I want to cover a topic that matters whether you're buying your first home or already on your second mortgage: building and using home equity.
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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 Basics
Home equity: what it is and why it matters
Equity is simply the difference between what your home is worth and what you still owe on your mortgage. As you make payments, your loan balance shrinks and your equity grows — and if your home appreciates, that builds equity even faster. Why should you care? Equity gives you options down the road. You might tap it for a major expense through a home equity line or loan, use it to upgrade without refinancing your entire mortgage, or carry it into your next home. The sooner you start building it, the more flexibility you'll have later. If you're not sure how much equity you have or what it could mean for your situation, I'd love to walk you through it. Reach out anytime — I can give you a quick picture of where you stand.
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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
Simply Laundry
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