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Mortgage Market Update
My Mortgage Company
Roxanne Lee
Wednesday, September 2, 2026
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What can you do with your home equity? |
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Hi there. This week I want to talk about something that often gets overlooked: the equity you've already earned in your home, and how it might work for you.
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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 home equity
If you've been a homeowner for a few years, you've likely built up equity—and that opens some real doors. Whether you're thinking about a major home project, consolidating debt, or funding something important, a home equity loan or line of credit can be a smart way to tap into the value you've already built. The key is understanding your options: some borrowers prefer the predictability of a fixed loan, while others like the flexibility of a line of credit. Before you decide, it helps to talk through what makes sense for your situation and timeline. If you'd like to explore what your equity might qualify for, I'm here to walk you through it.
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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
Roxanne Lee
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