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Mortgage Market Update
My Mortgage Company
Michael Hulse
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi everyone—this week I want to focus on something many of my clients overlook: the equity sitting in their homes and how it might help them right now.
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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 & Cash-Out
Your home's equity might be working harder than you think
If you've been in your home for a few years, you likely have more equity than you realize. That's the difference between what your home is worth and what you still owe—and it can be a powerful financial tool. Some homeowners use it to fund home improvements, pay off debt, or handle unexpected expenses. Others tap into it strategically to refinance into better loan terms. The key is understanding your options without rushing into anything. Your equity doesn't expire, and it doesn't cost you anything to explore what's available. I'd be happy to walk you through what you might be able to do with yours. Let's talk about your equity and what it could mean for your financial 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
Michael Hulse
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