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Mortgage Market Update
My Mortgage Company
Janine Baeza
Wednesday, September 2, 2026
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What can you do with your home equity? |
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A lot of you have asked about using equity lately. This week, I want to break down the options and help you think it through clearly.
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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 paying your mortgage for a few years, or if your home has appreciated, you likely have equity built up. That's real value you own, and it can work for you in a few ways—whether you're thinking about a major home project, managing other debt, or planning ahead. Understanding what options are available to tap into that equity responsibly is worth exploring, especially if life circumstances have shifted since you first bought. I'm here to walk through what makes sense for your situation. Let's talk about whether using your equity is the right move 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
Janine Baeza
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