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Mortgage Market Update
My Mortgage Company
Future Home Loans
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there,
This week I want to circle back to a question a lot of my clients ask once they've been in their home for a while.
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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's equity can do for you
If you've owned your home for a few years, you likely have built equity—the difference between what your home is worth and what you owe. That equity isn't just a number on paper; it can be a tool. Some homeowners tap into it through a cash-out refinance or a home equity line of credit to fund renovations, pay down higher-interest debt, or cover major expenses. Others simply let it grow, strengthening their net worth over time. The right move depends on your goals and 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 equity means 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
Future Home Loans
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