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Mortgage Market Update
My Mortgage Company
Robin Conley
Thursday, August 27, 2026
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Can you borrow against your home right now? |
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Hi — this week I'm talking about something that catches a lot of homeowners off guard: the equity sitting in their property. Let me explain what it is and when it might be worth using.
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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 & Cash Out
What your home equity means right now
If you've been a homeowner for a few years, you likely have built up equity — the difference between what your home is worth and what you owe on your mortgage. That equity is real money, and depending on your situation, you might be able to tap into it without selling. A cash-out refinance lets you borrow against that equity to fund renovations, pay off debt, or handle a major expense. The key is understanding that you're taking on a new loan with new terms, so the math needs to make sense for your goals and timeline. If this sounds like it might fit your picture, I'd love to walk you through how it could work. Reach out if you'd like to explore whether a cash-out refinance makes sense 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
Robin Conley
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