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Mortgage Market Update
My Mortgage Company
Stephanie Carman
Wednesday, September 2, 2026
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Do you know how much equity you have? |
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Hi there. Home equity is one of those financial tools that's easy to overlook—but it's worth understanding. Here's why it matters to you.
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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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Equity & Refinancing
You might have more borrowing power than you think
If you've owned your home for a few years, you've likely built equity—that's the difference between what your home is worth and what you still owe. That equity can open doors. Some borrowers use it to refinance into better loan terms, pull cash for home improvements or big expenses, or consolidate debt at a lower rate. The specifics depend on your situation: how much equity you have, your credit, income, and current market conditions all play a role. It's worth a conversation to see what options might make sense for you. Reach out anytime—I'm happy to walk through the numbers and see if a move like this could improve your financial picture. Let's talk about what your equity could do 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
Stephanie Carman
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