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Mortgage Market Update
My Mortgage Company
Julia Davis
Wednesday, September 2, 2026
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What you should know about your home equity |
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A lot of homeowners overlook one of their most valuable assets: the equity they've built. Here's why it matters and what you might do with it.
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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 & Refinancing
What your home's equity can do for you
If you've been paying down your mortgage, you likely have equity built up—the difference between what your home is worth and what you owe. That equity isn't just something nice to know about; it can be a real financial tool. Depending on your situation, you might tap into it through a refinance, a home equity line, or a cash-out loan to fund home improvements, pay off higher-interest debt, or handle a major expense. The key is understanding whether accessing that equity makes sense for your goals and timeline right now. I'd be happy to walk through what your options look like. Reach out and let's talk about whether your equity could work for you.
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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
Julia Davis
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