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Mortgage Market Update
My Mortgage Company
Thomas Von Der Ahe
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'm talking about a financial asset many homeowners overlook—and how to put it 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 has likely built equity—here's why that matters
If you've been paying your mortgage for a few years, you probably have equity built up in your home. That's the difference between what your home is worth and what you still owe. This equity isn't just a number on paper—it can be a real financial tool when you need it. Many homeowners tap into their equity for major expenses like home improvements, education, or consolidating debt. There are a few ways to access it, each with different terms and tradeoffs. The key is understanding your options so you can make a choice that fits your situation. I'd be happy to walk you through what might work for you. Curious about your equity or how to use it? Let's talk.
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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
Thomas Von Der Ahe
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