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Mortgage Market Update
My Mortgage Company
Steven Carey
Thursday, August 27, 2026
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How much equity do you have right now? |
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Hi there—this week I wanted to touch on something I talk about often but that deserves a closer look: 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 & Refinancing
Your home's equity could unlock new options
If you've owned your home for a few years, you likely have built equity—the difference between what your home is worth and what you owe on your mortgage. That equity isn't just a number on paper; it can be a real financial tool. Depending on how much you've built up, you might qualify for a cash-out refinance to pay off debt, cover a major expense, or invest in a home improvement. Even if refinancing doesn't make sense right now, knowing your equity position helps you plan ahead. I'd be happy to walk you through what you have and what options might be worth exploring. Let's talk about your equity and whether a refinance could work 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
Steven Carey
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