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Mortgage Market Update
My Mortgage Company
Xpert Home Lending
Thursday, August 27, 2026
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Can your home's equity help right now? |
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Welcome to this week's update. I'm sharing something that surprises a lot of homeowners when they realize how much financial flexibility they actually have.
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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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Home Equity
Your home's equity could work for you
If you've owned your home for a few years, you've likely built up some equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. It can be a real financial tool if you need cash for home repairs, medical expenses, education, or debt consolidation. The most common ways to tap into it are a home equity line of credit or a cash-out refinance, each with its own pros and cons depending on your situation. The key is understanding what makes sense for your goals and budget. If you're curious whether tapping your equity is the right move, I'd be happy to walk through the options with you. Reach out anytime—let's talk about whether your equity could help you achieve your next goal.
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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
Xpert Home Lending
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