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Mortgage Market Update
My Mortgage Company
Jill McCain
Thursday, August 27, 2026
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Do you know how much equity you've built? |
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Hi there—this week I want to talk about something many homeowners overlook: the equity they've already built into their home. It's often more valuable than people realize.
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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
Your home's equity might be worth more than you think
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 on your mortgage. This equity can be a powerful financial tool. Some homeowners use it to refinance into better loan terms, consolidate debt, or fund home improvements that increase their property's value even further. The tricky part is knowing what your equity actually is and whether it makes sense to tap into it right now. Market conditions, your current loan terms, and your long-term plans all play a role in that decision. If you're curious whether your equity position opens up new options for you, I'd love to walk through the numbers and explore what might work for your situation. Let's have a conversation about what your equity could do 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
Jill McCain
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