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Mortgage Market Update
My Mortgage Company
Nicola Josephine McCloskey-Kieff
Thursday, August 27, 2026
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What is your home's equity worth right now? |
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Hi there. This week I'm sharing something that often surprises homeowners—how much financial power 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 & Refinancing
Your home's equity might be worth more than you think
If you've owned your home for a few years, you've likely built equity—the difference between what your home is worth and what you still owe. This equity can be a powerful financial tool. Some borrowers use it to refinance into better loan terms, consolidate debt, or fund home improvements. Others tap it when life circumstances change. The key is understanding what you have and what your options actually are, rather than guessing. I've helped plenty of homeowners discover they had more flexibility than they realized. If you're curious whether your equity position makes sense for a refinance or other strategy, I'd be happy to walk through the numbers with you—no pressure, just clarity. Let's talk about what your equity means for your situation.
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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
Nicola Josephine McCloskey-Kieff
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