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Mortgage Market Update
My Mortgage Company
Tom Stafford's Office Line/CRM
Thursday, August 27, 2026
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How much equity are you sitting on? |
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Welcome back. This week I want to talk about something that quietly grows every month you own your home—and how to put it to work for you when the time is right.
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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 is more powerful than you think
As you pay down your mortgage and your home appreciates, you're building equity—real wealth sitting in your property. Many homeowners don't realize how much they've accumulated until they need it. Whether you're considering a major home project, facing unexpected costs, or want to consolidate debt at a better rate, that equity can be accessed through refinancing or a home equity line of credit. The key is understanding your options before you need them. If you'd like to know roughly how much equity you've built and what borrowing against it might look like, I'm happy to walk through the numbers with you. Reach out if you'd like to explore what your home equity could do 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
Tom Stafford's Office Line/CRM
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