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Mortgage Market Update
My Mortgage Company
Gregory Vassilatos
Thursday, August 27, 2026
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What you should know about your home equity |
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Hi there. This week I'm focusing on something many homeowners overlook: the equity sitting in their homes. Let me explain why it matters and what you might do with it.
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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 equity can work harder for you
If you've been paying your mortgage for a few years, or your home has appreciated, you likely have equity built up. That's real money sitting in your house—and depending on your situation, you have options. Some people use it to fund renovations, consolidate debt, or handle unexpected expenses. Others tap it strategically to improve their financial position. The key is understanding what's available to you and whether it makes sense for your goals. I work with homeowners all the time who didn't realize how much flexibility they had. Let's talk about whether your equity could be working smarter for you right now. Reach out and we can go over what your equity position looks like and what options might fit your needs.
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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
Gregory Vassilatos
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