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Mortgage Market Update
My Mortgage Company
Jeremy Marks
Thursday, August 27, 2026
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How much equity do you have in your home? |
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Hey there—I want to share something that often comes up in our conversations with long-time homeowners. Here's what you should know.
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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
What your home's value means for your finances
If you've owned your home for a few years, you likely have equity built up—the difference between what your home is worth and what you owe on it. That equity isn't just a number on paper; it can be a real financial resource when you need it. Some borrowers tap into their equity through refinancing or a home equity line of credit to cover major expenses, renovations, or consolidate debt. The key is understanding whether it makes sense for your situation. Not every homeowner needs to use their equity, but knowing you have options can be reassuring. If you're curious about what your home might be worth today and what that could mean for your options, I'd be happy to walk through it with you—no pressure, just clarity. Let's talk about your home's value and whether tapping into equity makes sense 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
Jeremy Marks
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