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Mortgage Market Update
My Mortgage Company
Christopher Larson - Realtor
Thursday, August 27, 2026
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What's your home worth to you financially? |
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Welcome back. This week we're looking at one of the most overlooked advantages of homeownership.
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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—the difference between what your home is worth and what you owe on it. That's real wealth sitting in your property. Some homeowners tap into their equity through a refinance or a home equity line of credit when they need to fund repairs, consolidate debt, or handle major expenses. Others simply let it grow as part of their long-term financial picture. Either way, it's worth understanding what you have and what options might make sense for your situation. Every homeowner's needs are different, so I'd love to walk through your numbers with you and talk through what could work for your family. Let's talk about what equity you've built and whether tapping into it makes sense for you right now.
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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
Christopher Larson - Realtor
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