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Mortgage Market Update
My Mortgage Company
Sue Barry
Thursday, August 27, 2026
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What's your home equity worth right now? |
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Home ownership is as much about building wealth as it is about having a place to live. This week I want to talk about one of the biggest assets many of you have: the equity sitting in your home.
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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 home's value might be working harder than you think
If you've owned your home for a few years, there's a good chance you've built equity—the difference between what your home is worth and what you owe on your mortgage. That equity is real money, and it can be a powerful tool when you need it. Whether you're facing an unexpected expense, thinking about a renovation, or considering consolidating debt, tapping into your home's equity through a loan or line of credit might make sense. The key is understanding your options and making sure any move aligns with your long-term financial picture. I'd be happy to walk you through what your equity situation looks like and whether it makes sense to explore these options. Let's talk about what you've built in your home—reach out when you have a moment.
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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
Sue Barry
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