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Mortgage Market Update
My Mortgage Company
Rosemary Dao
Thursday, August 27, 2026
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What your home equity can do for you |
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Hello—this week I want to share something I hear from homeowners often: they don't realize how much financial flexibility they've already built into 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 & Access
Your home equity can open doors you didn't know existed
If you've been in your home for a few years, you've likely built up equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. It can be a tool. Some borrowers use it to fund home improvements, consolidate other debt, or handle unexpected expenses. There are a few ways to access it, each with its own trade-offs in terms of cost and timeline. The key is understanding which option makes sense for your situation. If you're curious whether your equity could work for you, I'd love to walk through your options with no pressure. Let's talk about what's actually possible. Reach out if you'd like to explore what your equity might mean for your financial picture.
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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
Rosemary Dao
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