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Mortgage Market Update
My Mortgage Company
TBD
Thursday, August 27, 2026
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What your home equity can do for you |
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Hi there. This week I'm walking through one of the biggest financial assets most homeowners overlook—and how it might help you reach your goals.
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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 equity can work for you
If you've owned your home for a few years, you likely have built up equity—the difference between what your home is worth and what you owe on your mortgage. That equity is real money, and depending on your situation, you have options to tap into it. Some borrowers use it to fund home improvements, pay off other debts, or handle unexpected expenses. The key is understanding what makes sense for your goals and your cash flow. I help clients explore programs like home equity lines of credit and cash-out refinances so they can make an informed choice. If you're curious whether your equity could help you right now, let's have a conversation. Reach out if you'd like to talk through whether tapping your equity makes sense 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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