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Mortgage Market Update
My Mortgage Company
Chris Tovey
Thursday, September 17, 2026
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What your home equity can actually do |
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Hi there,
This week I want to talk about something that often sits unused in homeowners' back pockets: equity.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.76%
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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
Your home's equity could work harder for you
If you've been paying your mortgage for a few years, you likely have built equity—that's the difference between what your home is worth and what you still owe. Many homeowners don't realize they can tap into that equity when they need money for home improvements, debt consolidation, or other major expenses. A cash-out refinance lets you borrow against your equity and pull out cash at closing. It's not right for everyone, and the math needs to work in your favor, but it's worth exploring if you're facing a big expense. The best time to look into it is when you have questions, not when you're already in crisis mode. I'd love to talk through whether it makes sense for your situation. If you're curious whether your equity could help you right now, let's have a quick conversation.
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Tip of the Week
Replace weatherstripping around exterior doors every few years. It's one of the cheapest ways to improve energy efficiency.
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Tips for Homeowners
USDA Loans: A Zero-Down Option for Rural Buyers
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1.
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USDA loans offer 100% financing (no down payment) for eligible properties in USDA-designated rural and suburban areas. The USDA's eligibility map may include areas closer to cities than you'd expect.
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2.
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USDA loans have income limits — typically 115% of the area median income. Both the property location and borrower income must qualify.
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3.
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There's an upfront guarantee fee (1% of the loan) and an annual fee (0.35% of the balance). These are lower than FHA mortgage insurance and can be rolled into 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
Chris Tovey
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