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Mortgage Market Update
My Mortgage Company
Xpert Home Lending
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there—this week I want to touch on something many homeowners overlook until they need it: the equity you've built in your home. Here's why it matters.
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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 & Home Value
Your home's equity is a financial tool—here's how
If you've been in your home for a few years, you likely have built equity—the difference between what your home is worth and what you owe on your mortgage. That's real money you own, and it can work for you in several ways. Some homeowners tap into equity through a cash-out refinance to pay for major expenses or consolidate debt. Others keep building it as a long-term wealth strategy. The key is knowing what options exist so you can make a choice that fits your life right now. Whether you're curious about your equity position or thinking about how to use it, I'd love to walk you through what makes sense for your situation. Let's talk about what your equity could mean for your financial 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
Xpert Home Lending
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