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Mortgage Market Update
My Mortgage Company
Sean Fretwell
Thursday, August 27, 2026
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What's your home equity worth to you? |
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Hi there—this week I want to talk about something that's often overlooked until you need it: the equity sitting in your home. Let me explain why it matters.
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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 & Cash-Out
Your home's equity might be doing more for you than you think
If you've owned your home for a few years, you've likely built up equity—the difference between what your home is worth and what you owe. That equity isn't just a number on paper. Depending on your situation, it can be a real financial tool. Some borrowers use it to fund home improvements, pay off high-interest debt, or cover major expenses. Others refinance into a new loan that works better for their timeline. The key is understanding what options make sense for your specific goals and financial picture. Every situation is different, which is why it helps to talk through the numbers with someone who knows your loan and your plans. If you're curious whether tapping your equity makes sense right now, I'd be happy to walk you through your options.
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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
Sean Fretwell
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