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Mortgage Market Update
My Mortgage Company
Jake Yates
Thursday, August 27, 2026
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What's your home actually worth right now? |
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Your home is more than just a place to live—it's likely your biggest financial asset. This week, I want to help you understand how to use it smartly.
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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's built-in savings account
If you've owned your home for a few years, chances are you've built up equity—the difference between what your home is worth and what you still owe on the mortgage. That equity is real wealth, and it can work for you in several ways. You might use it to fund home improvements, cover a major expense, or consolidate higher-interest debt. The key is understanding your options and borrowing strategically. Whether you're thinking about a cash-out refinance or a home equity line of credit, the goal is to use your home's value wisely without overextending yourself. If you're curious about what equity you've built and how you might put it to work, I'd love to walk you through the possibilities. Let's talk about whether tapping your home equity makes 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
Jake Yates
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