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Mortgage Market Update
My Mortgage Company
JAG
Thursday, August 27, 2026
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Do you know how much equity you have? |
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This week I want to circle back on something many homeowners overlook: the real value they've built in their home. Your equity is an asset—and it deserves a strategy.
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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 & Refinancing
Your home's equity could be working harder for you
If you've been paying your mortgage for a few years, you likely have built up equity—the difference between what your home is worth and what you still owe. That equity can open doors, whether you're thinking about a cash-out refinance to fund a renovation, pay off debt, or cover a big expense. The catch is timing: you'll want to understand how your current loan terms, the market, and your goals line up before making a move. It's worth a conversation to see if a refinance makes sense for your situation, or if there are other ways to tap into what you've already built. Let's talk about whether your equity is in the right place for your goals.
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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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