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Mortgage Market Update
My Mortgage Company
K. Frankie Larkins
Thursday, August 27, 2026
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What's your home's equity worth to you? |
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Hi there. Each week I share insights to help you make smarter decisions about your home and mortgage.
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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 is working for you
If you've been in your home for a few years, or if your neighborhood has appreciated, you likely have built equity—the difference between what your home is worth and what you owe. That equity can be useful. Some people tap it to fund home improvements, pay down higher-interest debt, or cover major life expenses through a cash-out refinance or home equity loan. Others simply let it grow as forced savings. The key is knowing what you have and understanding your options before you need them. I can help you figure out where you stand and what makes sense for your situation. Let's talk about how much equity you may have built—no obligation.
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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
K. Frankie Larkins
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