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Mortgage Market Update
My Mortgage Company
Chad Burckhard
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi, and thanks for staying in touch. This week we're talking about home equity and the doors it can open 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 Questions
What your home equity can do for you
If you've owned your home for a few years and made regular payments, 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 real financial tool. Some homeowners tap it to consolidate debt, fund home improvements, or cover major expenses. Others refinance to access it. The key is understanding your options before you need the money, so you can make a calm, confident decision. Every situation is different, and the right move depends on your goals, timeline, and current loan terms. I'd love to walk you through what makes sense for your specific circumstances. Reach out if you'd like to explore what your equity means for your goals.
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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
Chad Burckhard
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