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Mortgage Market Update
My Mortgage Company
Chad Rutherford
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi—this week I want to touch on something that quietly builds over time for homeowners: equity. It's easier to understand and use than many people think.
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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 Awareness
Your home's equity is working for you
If you've owned your home for a few years, you've likely built up equity—the difference between what your home is worth and what you owe on the loan. That's real financial progress, and it opens doors. Equity can be tapped for major expenses, used to refinance into better loan terms, or simply left alone to grow as you keep making payments. Understanding how much equity you have is the first step to using it wisely. Whether you're thinking about a renovation, consolidating debt, or exploring your options down the road, knowing your position puts you in control. I'd be happy to give you a clear picture of where you stand. Let's talk about your equity and what it means for your financial goals.
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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
Chad Rutherford
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