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Mortgage Market Update
My Mortgage Company
Gabrielle Theoharis
Thursday, August 27, 2026
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How much equity are you actually building? |
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Hi there,
This week I want to remind you of something many homeowners overlook: the power of building equity in your home.
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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 builds equity—that's the difference between what your home is worth and what you owe. It's easy to forget this while you're focused on the monthly payment, but over time, equity becomes real wealth. The sooner you start, the more you benefit. If you've owned your home for a few years, you may have more equity than you realize, and that can open doors—whether you want to refinance, tap into it for a major expense, or simply hold it as a financial cushion. I'd love to help you understand where you stand and what options might make sense for your situation. Let's talk about how much equity you've built and what it means for your 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
Gabrielle Theoharis
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