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Mortgage Market Update
My Mortgage Company
Darryl Bowles
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 that builds quietly over time but can make a real difference when you need it—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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Home Equity
Your home's value might be working for you
If you've owned your home for a few years, or bought before prices shifted in your area, you may have built equity—the difference between what your home is worth and what you still owe. That equity can be a real financial resource. Some people use it to fund home improvements, pay down other debts, or cover major expenses. The way you access it depends on your situation: a cash-out refinance, a home equity line of credit, or a home equity loan each work differently. The key is understanding what makes sense for your goals and budget. I'd be happy to walk you through how much equity you might have and what your options actually look like. Let's talk about your home's equity and whether tapping into it makes sense for you right now.
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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
Darryl Bowles
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