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Mortgage Market Update
My Mortgage Company
Katie Maynard
Thursday, August 27, 2026
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What's your home really worth right now? |
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Hello! This week I want to talk about something many homeowners overlook—and it could open up some real opportunities for you.
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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, there's a good chance you've built up meaningful equity—the difference between what your home is worth and what you owe on your mortgage. This equity can be a financial tool. Some homeowners tap into it through a cash-out refinance to fund repairs, pay off debt, or invest in other goals. Others use a home equity line of credit (HELOC) for flexibility. Before you make any moves, it helps to understand what equity you actually have and whether borrowing against it makes sense for your situation. The math and timing matter, and there's no one-size-fits-all answer. I'd be happy to walk through your options and what they might look like for your specific circumstances. Let's talk about how much equity you might have and whether it makes sense to use it.
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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
Katie Maynard
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