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Mortgage Market Update
My Mortgage Company
Michael Radcliffe
Tuesday, September 1, 2026
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Do you know how much equity you have? |
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Hi there—this week I want to focus on something that often gets overlooked: the equity in your home. It's one of the most powerful financial tools you have as a homeowner, and most people don't think about it nearly enough.
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National Mortgage Rates · August 27, 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 Awareness
What your home equity can do for you
If you've owned your home for a few years, you likely have equity built up—the difference between what your home is worth and what you still owe on your mortgage. This equity is real money, and it can work for you in meaningful ways. Some homeowners tap into it through refinancing or a home equity line of credit to fund renovations, consolidate debt, or handle unexpected expenses. Others simply let it grow as part of their long-term wealth. The key is knowing it's there and understanding your options. Whether you're thinking about a big project or just curious about your financial flexibility, I'd be happy to walk you through what makes sense for your situation. Let's talk about how much equity you might have and what you could do with it.
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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
Michael Radcliffe
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