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Mortgage Market Update
My Mortgage Company
Robin Conley
Wednesday, September 2, 2026
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Your home equity, explained simply |
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I've been getting questions about how to use home equity smartly, and it's a conversation worth having. Here's what you need to know.
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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 home's value means for your finances
If you've owned your home for a while, you likely have equity built up—the difference between what your home is worth and what you still owe. That equity is real money, and it can work for you in several ways. Some homeowners use it to fund major expenses, consolidate debt, or make home improvements. Others simply hold it as a financial cushion. The key is understanding what options exist and which one fits your situation. If you'd like to explore how your home's equity could support your goals, I'm here to walk you through the possibilities and what each one costs. Reach out and we can talk through what makes sense for you.
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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
Robin Conley
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