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Mortgage Market Update
My Mortgage Company
Jackson Murphy
Thursday, August 27, 2026
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What is your home equity worth today? |
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Hello! This week I want to touch on something that builds quietly in the background of homeownership—and can open real doors when you need 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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Equity Check
Your home's equity might be worth more than you think
If you've owned your home for a few years, you've likely built up equity—the difference between what your home is worth and what you still owe on your mortgage. This equity can be a powerful financial tool. Some homeowners tap into it through a cash-out refinance or a home equity line of credit when they need funds for repairs, education, or other big expenses. Others simply let it grow as part of their long-term wealth building. The first step is knowing roughly what you're working with. A quick home value estimate and a look at your loan balance can give you a clear picture. Whether you use that equity or let it sit, it's good to understand what you have. I'd be happy to walk through your specific situation and what options might make sense for you. If you'd like to explore what your home's equity could do for you, let's talk.
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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
Jackson Murphy
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