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Mortgage Market Update
My Mortgage Company
Robert Kelly
Wednesday, September 2, 2026
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Three ways to use your home equity |
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Hi there—I've noticed a lot of homeowners aren't sure what options they have once they've built up equity in their home. Let me break down the possibilities.
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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 actually do with your home equity
If you've been a homeowner for a few years, you've likely built up equity—the difference between what your home is worth and what you owe on your mortgage. That's real value sitting in your property, and it can work for you in several ways. Some homeowners tap into it through a cash-out refinance or a home equity line of credit to fund renovations, pay off debt, or cover major expenses. Others simply let it grow as a long-term wealth builder. The right choice depends on your goals, interest rates, and financial picture. I'd love to talk through what makes sense for your situation and whether any of these options might be worth exploring. Let's discuss whether tapping into your equity could help you reach your financial 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
Robert Kelly
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