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Mortgage Market Update
My Mortgage Company
Sean Rigsby
Thursday, August 27, 2026
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How much equity are you sitting on? |
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Building equity in your home is one of the smartest long-term wealth moves you can make. Here's how to think about it and use it wisely.
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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 unlock more than you think
If you've been in your home for a few years, you've likely built up equity—the difference between what your home is worth and what you owe on your mortgage. That equity can be a powerful financial tool. Some homeowners use it to tap into cash for home improvements, debt consolidation, or life expenses through a refinance or home equity line of credit. Others use it as a safety net, knowing they have options if their financial situation changes. The key is understanding what you have and whether using it makes sense for your goals. If you're curious whether your equity could work for you, I'd love to walk through your options and what they might look like in real dollars. Let's talk about what your equity could mean for your financial future.
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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
Sean Rigsby
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