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Mortgage Market Update
My Mortgage Company
Craig Barton
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there—this week I want to walk you through something that often surprises homeowners: the real value sitting in your house.
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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 bought a few years ago or have been paying down your mortgage, there's a good chance your home has built equity—the difference between what your home is worth and what you still owe. That equity can be a real financial tool. Some borrowers tap into it through a cash-out refinance to fund home improvements, pay off debt, or cover other goals. Others use a home equity line of credit for flexibility. The catch is that equity only helps if you know you have it. A quick conversation about your home's current value and your loan balance can tell you exactly where you stand and whether tapping that equity makes sense for your situation. Let's talk about what your equity might 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
Craig Barton
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