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Mortgage Market Update
My Mortgage Company
Carrie Nicholsky
Thursday, August 27, 2026
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What's your home worth now? |
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Welcome back. This week I want to remind you of something powerful that's happening with your mortgage 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 is working for you—here's how
Every mortgage payment you make builds equity in your home. That's money you're putting toward ownership instead of rent. Over time, as you pay down your loan balance and your home appreciates, that equity grows into a real asset you can tap into if you need it—whether for home improvements, education, or other major expenses. The longer you stay in your home, the stronger this position becomes. If you've been in your home for a few years and haven't thought about your equity lately, it might be worth a conversation. I can show you where you stand and what options might make sense for your situation. Let's talk about how much equity you've built so far.
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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
Carrie Nicholsky
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