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Mortgage Market Update
My Mortgage Company
Mike McBride
Thursday, August 27, 2026
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What's your home equity worth right now? |
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This week I'm thinking about borrowers who haven't checked in on their home's equity in a while. If that's you, it might be worth a conversation.
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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 Check
Your home is building wealth—here's how to use it
If you've been in your home for a few years, you likely have equity built up—the difference between what your home is worth and what you owe on your mortgage. That equity isn't just a number on paper; it's real financial flexibility. Some borrowers use it to fund home improvements, consolidate debt, or cover major expenses through a refinance or home equity line of credit. Others simply let it grow as part of their long-term wealth strategy. Understanding what you have available is the first step to deciding whether tapping into it makes sense for your situation right now. If you'd like to talk through your equity options or just find out where you stand, I'm here to help.
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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
Mike McBride
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