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Mortgage Market Update
My Mortgage Company
Rhett Weaver
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hello everyone. This week I want to talk about something a lot of homeowners overlook: the equity they've already built in their homes.
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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 might be worth more than you think
If you've owned your home for a few years, you've likely built up equity—the difference between what your home is worth and what you owe on your mortgage. Many people don't realize how much equity they have or what they can do with it. That equity can be a financial tool: some homeowners use it to refinance into better loan terms, consolidate debt, or fund home improvements that add value. Others tap into it strategically when life circumstances change. The key is understanding what you have and weighing your options before making a move. If you're curious whether your equity could work for you, I'd love to walk through your situation and explore what might make sense. Reach out if you'd like to discuss your home's current equity and what options might be available to you.
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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
Rhett Weaver
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