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Mortgage Market Update
My Mortgage Company
Marc Pitcher
Thursday, August 27, 2026
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Do you know how much equity you've built? |
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Hi there—this week I want to talk about something many homeowners don't think about nearly enough: the equity sitting in their home. It's often your biggest financial asset, and there are smart ways to use 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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Home Equity
Your home equity might be worth more than you think
If you've owned your home for a few years and made regular payments, you've likely built up equity—the difference between what your home is worth and what you owe. This matters because that equity can be a powerful financial tool. Some borrowers use it to fund home improvements, pay down debt, or cover major expenses. The good news is you don't have to sell your home to access it. There are several loan options designed to tap into your equity without disrupting your life. If you're curious whether you have enough equity to make a move, or just want to know your options, I'd be happy to walk you through the numbers and see what makes sense for your situation. Let's talk about what your equity could do 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
Marc Pitcher
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