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Mortgage Market Update
My Mortgage Company
Priscilla Nieves
Wednesday, September 2, 2026
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When home equity becomes an opportunity |
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There's a lot of noise around mortgages and money. Here's what actually matters to you this week.
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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 your equity can do for you
If you've been in your home for a few years, you likely have built 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 financial tool. Some homeowners use it to fund home improvements, consolidate debt, or cover major expenses through a cash-out refinance or home equity line of credit. Others leave it alone and let it grow. The right choice depends on your goals, timeline, and comfort level. Understanding what options are available to you is the first step toward making a decision that fits your situation. I'd be happy to walk you through how equity works and what might make sense for you—just reach out.
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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
Priscilla Nieves
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