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Mortgage Market Update
My Mortgage Company
Dakota Howard
Thursday, August 27, 2026
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How much equity do you actually have? |
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Hi—this week I want to talk about one of the best-kept secrets in homeownership: the power of equity. Here's why it matters to you right now.
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National Mortgage Rates · August 20, 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 Building
Your home equity: where it comes from and why it matters
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, as you pay down principal and your home appreciates, that equity grows. It's one of the most powerful wealth-building tools available to homeowners. Understanding your equity matters because it affects your financial flexibility: you may be able to tap into it for major expenses, use it to refinance under better terms, or leverage it if you're ready to upgrade. The sooner you start paying attention to how much equity you've built, the sooner you can make it work for you. I'd love to walk you through where your equity stands today and what opportunities might be available to you. Let's talk about your equity and what it means for your next move.
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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
Dakota Howard
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