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Mortgage Market Update
My Mortgage Company
Sandra Elliott
Thursday, August 27, 2026
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Do you know how much equity you have? |
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I hear from homeowners every week who didn't realize how much their home has appreciated. Here's what you should know about tapping into that growth.
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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 Basics
Your home's equity is working for you
If you've owned your home for a few years, you likely have built up equity — the difference between what your home is worth and what you still owe. This equity is real wealth sitting in your property. Many homeowners don't realize they can tap into it when life happens: a roof repair, a child's tuition, or consolidating higher-interest debt. A home equity loan or line of credit lets you borrow against that equity at rates typically lower than credit cards or personal loans. The money is there if you need it. If you're curious whether you have equity to work with or how much you might qualify to borrow, I'm happy to walk through the numbers with you. Let me help you understand what equity you've built and what options might make sense for your situation.
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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
Sandra Elliott
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