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Mortgage Market Update
My Mortgage Company
Derek Vail
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there—this week I want to talk about something that often gets overlooked: the equity sitting in your home and what you can 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 Awareness
Your home's equity could be working harder for you
If you've been paying your mortgage for a few years, you likely have more equity in your home than you realize. Equity is the difference between what your home is worth and what you still owe—and it's one of your most valuable financial assets. Some homeowners tap into that equity through a refinance or a home equity line of credit when they need funds for home improvements, education, or debt consolidation. Others simply let it sit. There's no single right answer, but understanding what you have available is the first step. If you're curious about your situation, I'd be happy to walk you through your options and what they might mean for your monthly payment and long-term finances. Let's talk about what equity you've built and whether it makes sense for your goals right now.
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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
Derek Vail
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