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Mortgage Market Update
My Mortgage Company
Russell Kesterson
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there—I hope you're settling into spring. This week I want to talk about something many homeowners overlook: the equity sitting in your home right now.
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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 might be working for you
If you've owned your home for a few years, or if your neighborhood has appreciated, you likely have equity built up—the difference between what your home is worth and what you owe. That equity is real money, and it can be a smart tool when you need it. Some borrowers use it to fund home repairs, pay off high-interest debt, or cover major life expenses. The key is understanding your options—whether that's a home equity line of credit, a cash-out refinance, or a second mortgage—and making sure the math makes sense for your situation. If you're curious whether tapping your equity is the right move, I'd be happy to walk through the numbers with you. Reach out if you'd like to explore what equity you might have and whether it could help with your goals.
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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
Russell Kesterson
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