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Mortgage Market Update
My Mortgage Company
Justin Connolly
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there—I'm sending out some thoughts on a topic that comes up more often than you'd think, and often at just the right moment for families.
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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 & Access
Your home equity might be worth more than you think
If you've owned your home for a few years, you likely have built equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. It can be a real financial tool when you need it. Whether you're facing unexpected expenses, planning a major home improvement, or thinking about consolidating debt, there are loan programs designed to let you tap into that equity without selling your home. The key is understanding what you have and what makes sense for your situation. I'd be happy to walk you through your options and show you what's actually available to you. If you'd like to discuss your equity and what it could mean for your goals, reach out and we can have a quick conversation.
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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
Justin Connolly
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