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Mortgage Market Update
My Mortgage Company
Ross D. Tammen
Thursday, August 27, 2026
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Do you know what your home is worth to you now? |
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Hi there,
This week I want to talk about something many homeowners overlook—the equity sitting in their home and what it can do for them.
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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 & Access
Your home's equity might unlock options you haven't considered
If you've been paying down your mortgage or your home has appreciated, you may have built meaningful equity. That equity can be a tool—whether you need cash for a major expense, want to consolidate debt, or are thinking about a second property. The way you access it matters, though. Different loan programs have different costs and terms, and it's worth understanding which one fits your situation before you decide. I've helped a lot of homeowners unlock equity in ways that actually made financial sense for them. If you're curious whether you have options, I'd be happy to walk through what's realistic for your home and goals. Reach out anytime you'd like to explore whether your equity can work 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
Ross D. Tammen
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