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Mortgage Market Update
My Mortgage Company
Mai Hoang
Wednesday, September 2, 2026
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Should you borrow against your home? |
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Hi there—this week I'm sharing some thoughts on one of the most common questions homeowners ask me.
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National Mortgage Rates · August 27, 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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Smart Money
When it makes sense to tap your home equity
If you've built equity in your home over time, you have options. A cash-out refinance or home equity line of credit can let you borrow against that equity for major expenses—renovations, education, consolidating higher-rate debt. The appeal is real: your home equity often comes with lower rates than credit cards or personal loans. But it's worth pausing to ask yourself whether borrowing against your home aligns with your long-term plan. Taking on new debt, even at favorable rates, extends your payoff timeline and ties risk to your primary asset. The right move depends on your goals, timeline, and comfort level. I'm here to walk through the numbers and options with you—no pressure, just clarity. Curious whether a home equity strategy makes sense for you? Let's talk through it.
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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
Mai Hoang
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