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Mortgage Market Update
My Mortgage Company
Jacquelyn Piatt
Thursday, August 27, 2026
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Your home equity is likely bigger than you think |
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I spend a lot of time talking about rates and payments, but today I want to focus on something that builds quietly in the background: home equity. Understanding it could change what's possible for you.
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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 Basics
What your home equity can actually do for you
Home equity is one of those terms people hear but don't always understand—so let me break it down. It's simply the difference between what your home is worth and what you still owe on your mortgage. The longer you own your home and the more your payments chip away at that loan balance, the more equity you build. That matters because equity can open doors: it can qualify you for a cash-out refinance, a home equity line of credit, or help you make a stronger offer if you're buying again. Some people sit on equity for years without realizing it's there, working for them. If you've been in your home for a few years, there's a good chance you have more equity than you think. Let's talk about how much equity you might have built and what options could make sense for your situation.
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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
Jacquelyn Piatt
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