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Mortgage Market Update
My Mortgage Company
Charlie Flohr
Thursday, August 27, 2026
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How much equity do you have right now? |
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Hi there. This week I want to focus on something many homeowners don't think about often enough: the equity sitting in their home.
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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 Check
What your home equity can do for you
If you've owned your home for a few years, you likely have built up equity—the difference between what your home is worth and what you owe on it. That equity is real money, and it can work for you in several ways. Some homeowners use it to fund home improvements, pay off higher-interest debt, or cover major life expenses. Others tap into it through a refinance or a home equity line of credit. The key is understanding what options make sense for your situation. If you're curious whether your equity position opens up any doors, I'd like to walk through the numbers with you and explore what might be possible. Let's talk about what your equity means 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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Your Mortgage Advisor
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My Mortgage Company
Charlie Flohr
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