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Mortgage Market Update
My Mortgage Company
The Loan Yard
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Welcome back. This week, I want to help you understand one of the most powerful tools you already own as a homeowner: your equity.
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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 while, you likely have equity built up—the difference between what your home is worth and what you owe on your mortgage. That equity is real money, and it can work for you in a few ways: a cash-out refinance to consolidate debt or fund a project, a home equity loan or line of credit for flexibility, or simply peace of mind knowing you're building wealth. The catch is timing. Market conditions, your credit, and your current loan terms all affect whether tapping into equity makes sense right now. I'd be happy to walk through what you might qualify for and whether it's the right move for your situation. If you're curious about your equity and options, let's talk.
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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
The Loan Yard
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