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Mortgage Market Update
My Mortgage Company
Jonathan Ortega
Thursday, August 27, 2026
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How much equity have you built? |
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Hello! This week I want to talk about something that's quietly working in your favor: the equity you're building with every payment.
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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 equity is working harder than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe on it. But equity isn't just something that sits there. It can become a tool when you need it: a way to refinance into better terms, tap funds for home improvements, or handle an unexpected expense without turning to credit cards. The longer you own your home and the more you pay down the loan, the more options open up to you. If you're curious about how much equity you might have built, or whether it makes sense to use it right now, I'd be happy to walk through the numbers with you. Reach out anytime—I can give you a clear picture of where you stand and what doors that opens.
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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
Jonathan Ortega
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