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Mortgage Market Update
Joey Rivero
Clear Choice Lending Group
Wednesday, September 2, 2026
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One way to tap into your home's equity |
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Home equity isn't just a number on paper—it can be a tool. Let me explain what I mean.
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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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Cash-Out Options
What you can actually do with your home's equity
If you've built equity in your home, you have options. A cash-out refinance lets you borrow against that equity and receive the difference in cash—money you can use for home improvements, debt payoff, education, or whatever makes sense for your situation. It's not free money, but it can be a smart way to access funds at a mortgage rate, which is often lower than other borrowing options. The key is understanding the trade-offs: you're extending your loan term and taking cash now in exchange for a longer payoff period. That's why it makes sense to talk through whether it fits your goals and timeline before moving forward. If you're curious whether a cash-out refinance makes sense for you, I'm happy to walk through the numbers and 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 Joey Rivero team any time and we'll walk you through your options. |
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