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Mortgage Market Update
My Mortgage Company
Brian Emerson
Thursday, August 27, 2026
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Home equity—what it really means for you |
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Hi there. This week I'm focusing on a topic that matters most once you've been a homeowner for a while: your equity and what you can actually do with 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 & Refinancing
What your home equity can do for you
If you've owned your home for a few years, you likely have built up equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. It can be a real financial tool. Some homeowners tap it to fund home improvements, pay off debt, or handle major expenses. Others use it to refinance into better loan terms. The key is understanding what options make sense for your situation and your goals. Every borrower's circumstances are different, and the right move depends on your timeline, your financial picture, and what you're trying to accomplish. If you're curious whether your equity could work harder for you, I'd love to walk through the possibilities. Reach out and we can talk through whether a cash-out refinance or home equity option might be right for 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
Brian Emerson
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