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Mortgage Market Update
My Mortgage Company
Danielle H Fahy
Wednesday, September 2, 2026
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What can you actually do with home equity? |
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Hi there. This week I want to cover a topic that comes up often once homeowners have built some real wealth in their property.
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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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Home Equity
What you can do with home equity
If you've built up equity in your home over time, you have options. Some homeowners tap into it through a cash-out refinance or a home equity line of credit to fund home improvements, consolidate debt, or cover major expenses. Others simply hold it as a financial cushion. The right choice depends on your goals, your timeline, and what makes sense for your situation. Before you decide anything, it helps to understand what's available to you and how each option works. I'm here to walk you through the possibilities without any pressure. Let's talk about whether tapping your equity makes sense for you right now.
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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
Danielle H Fahy
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