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Mortgage Market Update
My Mortgage Company
Griffin Stephens
Thursday, August 27, 2026
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What's your home equity worth to you? |
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Hi there — this week I'm thinking about the equity you've built and what it might mean for your financial picture.
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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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Home Equity
Your equity could be working harder for you
If you've been paying your mortgage for a few years, you likely have equity built up in your home — the difference between what your home is worth and what you still owe. That equity isn't just a nice number on paper; it can be a financial tool. Some homeowners use it to consolidate debt, fund home repairs, or cover major expenses through a home equity line of credit or cash-out refinance. The right move depends on your situation, your goals, and what the numbers actually look like for you. If you're curious whether tapping your equity makes sense, I'd be happy to walk through your options — no pressure, just clarity. Let me know if you'd like to explore what your equity could do 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
Griffin Stephens
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