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Mortgage Market Update
Kyle Cosky
Kyle Cosky
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 a lot of homeowners overlook: the equity sitting in their home right now. It's easier to figure out than you might think, and it opens up real possibilities.
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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 equity might be worth more than you think
If you've owned your home for a few years, chances are you've built up meaningful equity—the difference between what your home is worth and what you still owe on your mortgage. That equity can be a powerful financial tool. Some homeowners tap it to fund renovations, consolidate debt, or cover major expenses. Others use it as a foundation for their next move. The first step is getting clear on where you stand. A quick home valuation and a look at your loan balance tell you exactly what you're working with. It's worth knowing, even if you're not planning to do anything right now. I'd be happy to walk you through your equity position and talk through your options—no pressure, just information. Reach out and let's take a look at your equity picture together.
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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 Kyle Cosky team any time and we'll walk you through your options. |
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