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Mortgage Market Update
My Mortgage Company
Eric Smart
Thursday, August 27, 2026
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How much equity have you built up? |
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Hi everyone—this week I want to talk about something many of you have been quietly building for years. It's called equity, and it can be surprisingly useful 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 & Options
What your home equity can do for you
If you've been paying your mortgage for a few years, or your home has appreciated, you likely have equity built up. That equity is real money—and it opens doors. Some people use it to fund home improvements, consolidate debt, or cover major expenses. Others tap it strategically to refinance into better loan terms. The key is understanding what makes sense for your situation. Pulling out equity isn't right for everyone, and it does increase what you owe, so it deserves careful thought. But knowing what's available to you is the first step to making a smart choice. If you'd like to explore what your equity means for your options, I'm here to walk through the numbers with 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
Eric Smart
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