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Mortgage Market Update
My Mortgage Company
Melissa Graham
Wednesday, September 2, 2026
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What can your home equity do for you? |
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Building equity in your home is a real financial win. But what comes next?
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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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Smart Money
Should you tap your home equity?
If you've owned your home for a few years, you've likely built equity—and that opens up options. A home equity line of credit or loan lets you borrow against what you own, often at favorable rates, for major expenses like renovations, education, or debt consolidation. The key is using it strategically: these tools work best when you have a clear plan for the money and confidence you can manage the payments. Before you borrow, it's worth sitting down to run the numbers and understand how it fits into your bigger financial picture. I'm happy to walk through what makes sense for your situation. If you're curious whether a home equity option might work for you, let's talk through it together.
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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
Melissa Graham
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