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Mortgage Market Update
My Mortgage Company
River Fox Lending
Thursday, August 27, 2026
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Do you know what your home equity can do? |
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Every week, I help borrowers make smarter money moves with their homes. This week, I want to talk about a resource many homeowners overlook.
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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 & Options
What your home equity can actually do for you
If you've been a homeowner for a while, you likely have equity built up—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper; it's a real financial tool you can use when you need it. Whether you're facing a major expense, planning a renovation, or thinking about consolidating debt, understanding your options is the first step. Some borrowers tap equity through a refinance, others through a home equity line of credit or loan. Each path has different timing, costs, and terms. The key is knowing what makes sense for your situation. Let's talk about whether using your equity makes sense right now—reach out anytime.
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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
River Fox Lending
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