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Mortgage Market Update
My Mortgage Company
Deanna Parrish
Thursday, August 27, 2026
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How much equity do you actually have? |
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Hi there. This week I want to talk about something that builds quietly in the background of homeownership but can open real doors down the road.
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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 is working harder than you think
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Over time, that adds up to real financial cushion. Beyond monthly payments, your home's value itself may appreciate, which means your equity can grow even faster. This matters because equity gives you options: you can borrow against it for major expenses, use it as a down payment on another property, or simply enjoy the security of owning more of your home each year. If you haven't checked your equity position lately, it might surprise you. I'd love to walk you through where you stand and what those options could look like for your situation. Let's talk about your equity—reach out and we can review your numbers together.
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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
Deanna Parrish
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