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Mortgage Market Update
My Mortgage Company
Destany Poulette
Thursday, August 27, 2026
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What can you do with your home's equity? |
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Hi there,
This week I want to touch on something that often goes overlooked—but shouldn't.
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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 & Options
Your home's equity can open doors
If you've owned your home for a few years, there's a good chance you've built up equity—the difference between what your home is worth and what you still owe on your mortgage. That equity isn't just a number on paper; it can be a real financial tool. Whether you're thinking about a major home project, consolidating debt, or funding something important, understanding what you can do with your equity is worth exploring. The options available to you depend on how much you have, your credit situation, and your goals. I'd be happy to walk you through what might make sense for your specific situation. Curious what your equity position looks like? Let's talk through your options.
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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
Destany Poulette
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