Mark Monson · August 27, 2026

Do you know how much equity you have?

Mortgage Market Update

My Mortgage Company

Mark Monson

Thursday, August 27, 2026

Do you know how much equity you have?

Hi there—another week, another chance to think about your finances in a smarter way.

National Mortgage Rates · August 20, 2026

30-Year Fixed

6.65%

FHA 30-Year

6.53%

VA 30-Year

6.32%

Rate trend

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.


Equity & Options

What your home equity can do for you

If you've been in your home for a few years, you likely have built equity—the difference between what your home is worth and what you still owe. That equity is real wealth, and it can work for you in several ways. Some people tap it through a cash-out refinance to fund home improvements, pay off debt, or cover major expenses. Others use a home equity line of credit for ongoing access to funds. The right move depends on your goals, timeline, and comfort level with borrowing against your home. I've helped clients unlock equity to renovate kitchens, send kids to college, and consolidate high-interest debt. If you're curious what your equity position looks like and what options might make sense, I'd love to walk through it with you.

Reach out and we can talk through whether your equity has options worth exploring.

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.

Tips for Homeowners

Understanding Mortgage Points

1.

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.

2.

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.

3.

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.

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.

Your Mortgage Advisor

M

My Mortgage Company

Mark Monson

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