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Mortgage Market Update
My Mortgage Company
Alan Gonzalez
Thursday, August 27, 2026
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Do you know how much equity you've built? |
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Hi there,
This week I'm walking through something that builds quietly in the background of homeownership but can unlock real opportunities when you need them.
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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 still owe on it. Over time, this becomes real wealth. But equity isn't just something that happens passively. Understanding how much you have, and what you can do with it, opens up real options: refinancing at better terms, tapping it for major expenses, or accelerating payoff. If you haven't looked at your equity position in a while, now's a good time. I can help you figure out where you stand and whether a move makes sense for your situation. Let me pull together a quick equity snapshot for you—just reach out.
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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
Alan Gonzalez
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