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Mortgage Market Update
My Mortgage Company
Raymond F Rodrigues
Wednesday, September 2, 2026
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What you can do with your home equity |
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Many homeowners don't realize the financial flexibility they've built over time. Let's explore how your equity could 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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Equity & Access
Your home equity can open doors
If you've owned your home for a while, you've likely built equity—the difference between what your home is worth and what you owe. That equity isn't just a number on paper. It can be a real financial tool when you need it: funding a renovation, consolidating debt, covering a major expense, or even helping a family member. There are several ways to tap into it, each with different terms and costs. The right choice depends on your situation, timeline, and comfort level. I'd love to walk you through your options and help you understand what makes sense for your goals. Let's talk about whether accessing your equity could help you right now.
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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
Raymond F Rodrigues
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