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Mortgage Market Update
My Mortgage Company
Jeremy Shane Jordan
Thursday, August 27, 2026
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How much equity have you built? |
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This week we're looking at something many homeowners overlook — the real wealth building that happens quietly over time. Understanding your equity can open up options you didn't know you had.
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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 — 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 potentially appreciates, that equity grows into real wealth you can access when you need it. Many homeowners don't realize how much equity they've already built, especially if they've been in their home for several years. Knowing your equity position matters because it opens doors: you might qualify for a cash-out refinance, a home equity loan, or a line of credit if life circumstances change. I'd love to run the numbers for you and show where you stand. Let's talk about your equity and what options might be available to 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
Jeremy Shane Jordan
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