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Mortgage Market Update
My Mortgage Company
Test Rey Magz
Wednesday, September 2, 2026
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Three ways to tap your home equity |
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Hi there. This week I want to cover something that comes up a lot: what homeowners can actually do once they've built equity in their home.
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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 built up equity in your home, you have options. Some people use a cash-out refinance to pull out funds for home repairs, debt payoff, or education expenses. Others open a home equity line of credit (HELOC) and draw on it as needed. A home equity loan is another route—fixed rate, fixed term, straightforward. The right choice depends on your timeline, how much you need, and what feels comfortable for your situation. These aren't decisions to rush, but they're worth understanding if you're sitting on real equity. I'd be happy to walk through how each one works and what might make sense for you. Let's talk about your equity options—reach out anytime.
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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
Test Rey Magz
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