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Mortgage Market Update
My Mortgage Company
Jennifer Everhart
Thursday, August 27, 2026
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What's your home equity worth right now? |
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Welcome back. This week we're looking at something that builds quietly over time—and might surprise you.
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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
You may have more borrowing power than you think
If you've owned your home for a few years and made regular payments, you've likely built equity—the difference between what your home is worth and what you owe on your mortgage. That equity can be a financial tool. Some borrowers use it to fund home improvements, pay off high-interest debt, or cover major expenses through a home equity line of credit or cash-out refinance. The key is understanding what you have available and whether tapping it makes sense for your situation. It's not right for everyone, but it's worth knowing your options. I'd be happy to walk you through what your equity position looks like and what might be possible. Let's talk about whether your equity could work for 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
Jennifer Everhart
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