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Mortgage Market Update
My Mortgage Company
Dwayne Bull
Thursday, August 27, 2026
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What's your home equity actually worth? |
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This week I want to cover something that gets overlooked in mortgage conversations but matters a lot to your financial picture. Home equity is one of the smartest wealth-building tools available to homeowners—and many of you have more than you 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 Basics
Your home equity is real money—here's how to think about it
Every mortgage payment you make builds equity in your home. That's the difference between what your home is worth and what you still owe on the loan. For many of you, that equity has grown substantially over the past few years. The reason this matters: equity can become a tool. Whether you're thinking about refinancing, making home improvements, or handling an unexpected expense, understanding what you've built gives you options. Some people tap their equity through a cash-out refinance or a home equity line of credit. Others simply let it grow as part of their long-term wealth. Either way, it's worth knowing the number. If you're curious about how much equity you have or what you might be able to do with it, I'd love to walk through your situation. Let's talk about your equity and what options might make sense 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
Dwayne Bull
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