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Mortgage Market Update
My Mortgage Company
Kiro Habib
Thursday, August 27, 2026
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Your home equity is worth a conversation |
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Hi there. This week I want to remind you of something powerful about homeownership that often goes unnoticed.
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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 while you sleep
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe on it. Over time, this grows into real wealth. Some of you have already built substantial equity since buying, and that opens doors: you might refinance into better terms, tap that equity for home improvements or other needs, or simply rest easier knowing you're building something lasting. The sooner you understand how much equity you have, the sooner you can make smart decisions about it. I'd love to give you a clear picture of where you stand and what options might make sense for your situation. Let's talk about your equity and what it could mean for your financial goals.
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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
Kiro Habib
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