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Mortgage Market Update
My Mortgage Company
Tom Rydberg
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Home equity is one of the most powerful wealth-building tools available to homeowners. Let me break down what it really means and why you should pay attention to 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 101
What your home equity actually means for you
Home equity is simply the difference between what your home is worth and what you still owe on your mortgage. As you make monthly payments, you're building it. As your home's value appreciates, you're building it too. The reason this matters is that equity can become a tool—you may be able to borrow against it if you need cash for repairs, education, or other big expenses down the road. But equity isn't free money sitting in your account. It's locked into your home until you access it through a loan or sell. Understanding how much you have and how it grows is one of the smartest habits a homeowner can develop. If you're curious about your own equity position or how to use it strategically, I'd love to walk through the numbers with you. Reach out anytime—I'm here to help you understand your home's financial potential.
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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
Tom Rydberg
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