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Mortgage Market Update
My Mortgage Company
Georgia Kelley
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hello! This week I want to talk about something that quietly works in your favor every single month.
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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
How much equity are you sitting on?
Every mortgage payment you make builds equity in your home — that's the difference between what your house is worth and what you still owe. Over time, this becomes real wealth you can tap into if you need it. Knowing your equity matters because it opens doors: you might qualify for a home equity line of credit, refinance into better terms, or understand your true net worth as a homeowner. The longer you own and the more you pay down, the stronger your position becomes. If you haven't thought about your equity in a while, now's a good time to get a clear picture of where you stand. Let's calculate your equity and talk about what options it might unlock for you.
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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
Georgia Kelley
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