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Mortgage Market Update
My Mortgage Company
Wes Eagles's Account (For Deletion)
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there,
This week we're talking about one of the most overlooked resources homeowners have: the equity in their own home.
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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 Check
Your home's equity is probably worth a conversation
If you've owned your home for a few years, you've likely built equity—the difference between what your home is worth and what you still owe on your mortgage. That equity can be a financial tool. Some homeowners tap into it through a refinance or a home equity line of credit to fund renovations, pay down debt, or handle a major expense. The key is understanding what you have and whether using it makes sense for your situation. I've helped a lot of people unlock equity in ways that actually improved their financial picture, and I've also advised plenty to leave it alone. The right move depends entirely on your goals and circumstances. If you're curious what your home might be worth today and how much equity you're sitting on, let's talk through your options. Reach out if you'd like to explore what your 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
Wes Eagles's Account (For Deletion)
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