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Mortgage Market Update
My Mortgage Company
Fetchy McFetch
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there—I wanted to share something that deserves more attention than it usually gets. Your home is doing more for you than just providing a place to live.
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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 every month
Every mortgage payment you make does two things: it covers interest and it builds equity in your home. That second part is the real wealth builder. Over time, as you pay down your loan balance, you own more of your home outright. This is one reason homeownership can be such a smart long-term move—you're forced to save through your monthly payment, and your home's value may appreciate on top of it. If you've owned your home for a few years, you might be surprised how much equity you've accumulated. That equity can open doors down the road, whether you want to tap into it for a major expense, refinance into better terms, or invest in upgrades that improve your home's value. Curious where you stand? I'd love to walk through your numbers with you. Let's talk about what your equity means for your financial future.
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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
Fetchy McFetch
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