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Mortgage Market Update
Derek Mollin
Derek Mollin
Wednesday, September 2, 2026
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Built equity in your home lately? |
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Hi there, I wanted to share something that catches a lot of homeowners off guard: you may have built more financial flexibility than you realize. Here's what I mean.
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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 & Options
You might have more borrowing power than you think
If you've owned your home for a few years, chances are you've built equity—the difference between what your home is worth and what you owe on your mortgage. That equity can be a real financial tool. Some homeowners use it to consolidate debt, fund home improvements, or cover major expenses without taking on high-interest loans. The most common ways to tap into equity are a home equity line of credit, a home equity loan, or a cash-out refinance. Each has different terms and trade-offs, so it's worth understanding which might make sense for your situation. If you're curious whether you have equity to work with and what your options might look like, I'd love to walk you through it. Let's talk about what equity you may have built and whether it could help you reach a financial goal.
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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 Derek Mollin team any time and we'll walk you through your options. |
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