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Mortgage Market Update
My Mortgage Company
James Young
Thursday, August 27, 2026
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What is your home worth today? |
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Home equity can be one of your best financial tools—if you know how to use it. This week, we're looking at why it matters and how to think about it clearly.
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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
You might have more home equity than you realize
If you've owned your home for a few years and made regular payments, you've likely built up equity—that's the difference between what your home is worth today and what you still owe on your mortgage. As homes appreciate and you pay down your loan balance, that number grows. Some borrowers are surprised to learn they have enough equity to tap into for major expenses, home improvements, or other financial goals. Whether through a home equity line of credit, a cash-out refinance, or a second mortgage, your equity can be a real asset. The key is understanding what you have and whether using it makes sense for your situation. If you'd like to know how much equity you're sitting on and what your options might be, I'd be glad to walk through it with 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
James Young
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