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Mortgage Market Update
My Mortgage Company
Spencer Javier
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to talk about something many homeowners overlook—the real wealth they've already built.
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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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Home Equity
Your home's equity could be working harder
If you've been in your home for a few years and made regular payments, you've likely built equity—the difference between what your home is worth and what you still owe. That equity sits there by default, but it doesn't have to. Depending on your situation, you might tap it for a major repair, pay off higher-interest debt, or fund something important to your family. The key is understanding your options: a cash-out refinance, a home equity loan, or a line of credit each work differently and come with their own costs and benefits. Before you decide anything, it helps to know what you actually have to work with. I'd be happy to walk you through what your equity position looks like and whether any of these tools make sense for you right now. Let's have a quick conversation about what your equity could do 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
Spencer Javier
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