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Mortgage Market Update
My Mortgage Company
Beef Gervais
Thursday, August 27, 2026
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What you can do with your home equity |
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Every mortgage payment you make builds ownership. This week, I want to show you how to recognize and put that equity to work.
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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 is building wealth—here's how to use it
If you've owned your home for a few years, you've likely built up equity—the difference between what your home is worth and what you owe on your mortgage. That equity is real money, and it can work for you. Many homeowners tap into it through a home equity line of credit or a cash-out refinance when they need funds for repairs, education, debt consolidation, or other big expenses. The key is understanding your options and making sure any borrowing makes sense for your situation. I'd love to walk you through what your equity might be worth and which strategy could fit your goals. Let's talk about what your home equity can do for you—reach out anytime.
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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
Beef Gervais
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