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Mortgage Market Update
My Mortgage Company
Kris Wootton
Wednesday, September 2, 2026
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What's your home equity worth to you? |
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Hey there—this week I want to circle back to something I mentioned recently, but from a different angle. Your home equity is more than just a good sign; it's an option.
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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 you can do with the equity in your home
If you've been a homeowner for a few years, there's a good chance you've built up meaningful equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper; it's a real financial resource you can tap into when life happens. Whether you're facing unexpected expenses, planning a major home improvement, or thinking strategically about your finances, understanding your options matters. I'd love to walk you through what's possible and help you figure out whether tapping into your equity makes sense for your situation right now. Let's talk about your equity and what it could mean for your goals.
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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
Kris Wootton
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