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Mortgage Market Update
My Mortgage Company
Blue Collar Mortgage
Thursday, August 27, 2026
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What's your home worth to you right now? |
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Welcome back. This week I want to talk about something you've probably been building without thinking much about it.
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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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Home Equity
Your home is building wealth—here's how to use it
If you've been paying your mortgage for a few years, you likely have equity built up in your home. That's real money you own. Some borrowers tap into their equity through refinancing or a home equity line of credit to fund renovations, pay off debt, or handle unexpected expenses. The key is understanding your options and whether it makes financial sense for your situation. I see homeowners make the most of their equity when they have a clear purpose and a realistic plan to repay any new borrowing. If you're curious whether you have options available to you, I'm happy to walk through the numbers with no pressure. Reach out if you'd like to explore what your home 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
Blue Collar Mortgage
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