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Mortgage Market Update
My Mortgage Company
Shelby Byington
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there—this week I want to bring up something I don't think we talk about enough: the equity sitting in your home and what you can actually do with it.
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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 Strategy
Your home equity could be working harder for you
If you've been in your home a few years, you've likely built up equity—money that represents your stake in the property. Many homeowners don't realize this equity can be a tool for big financial goals: funding renovations, consolidating debt, or covering unexpected expenses. There are different ways to access it, each with its own tradeoffs in terms of rate, timeline, and how you manage the loan. The key is understanding which option matches your situation and your comfort level. If you're curious whether tapping into your equity makes sense right now, I'd love to walk through the real numbers with you and explore what might work. Let's talk about whether your equity could help you reach a goal.
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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
Shelby Byington
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