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Mortgage Market Update
My Mortgage Company
Craig Scott
Thursday, August 27, 2026
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How much equity do you have right now? |
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Hi there. This week I want to talk about one of the best parts of owning a home—something that's probably happening in your favor right now, even if you're not paying close attention to it.
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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 real wealth accumulation happening automatically each month. Over time, as you pay down your loan balance and your home holds its value, that equity becomes a resource you can tap into if you need it—whether for a major repair, education, or consolidating other debts. The longer you own your home, the faster this happens. It's one of the reasons homeownership is such a powerful financial move, and it's worth understanding where you stand. If you're curious about how much equity you've built or what options that might open up for you, I'd love to walk through it together. Reach out if you'd like to discuss your equity position and what it could mean 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
Craig Scott
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