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Mortgage Market Update
My Mortgage Company
Dorian Weber
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there. We're back this week with a topic that often gets overlooked—your home equity, and what you might do with it.
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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
Your home equity might be worth more than you think
If you've owned your home for a few years, chances are you've built up equity—the difference between what your home is worth and what you owe on your mortgage. That equity can be a real financial tool. Some people use it to fund home improvements, pay off debt, or cover major expenses through a home equity loan or line of credit. Others tap it when refinancing. The key is knowing what you have to work with. Your home's value may have shifted since you bought it, and your loan balance has dropped with every payment you've made. If you're curious about your equity position or wondering whether it makes sense to use it, I'd love to walk through your situation with you. Reach out if you'd like to talk through your equity options—no obligation.
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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
Dorian Weber
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