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Mortgage Market Update
My Mortgage Company
Manila
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there—this week I want to talk about something that's quietly working in your favor: home equity. It's one of the smartest reasons to own a home, and it's worth understanding.
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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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Home Equity
Your home is building you wealth every month
One of the best things about owning a home is that your mortgage payment is doing double duty. Part of it goes toward interest, but part of it goes straight toward building equity—ownership stake you actually own. Over time, as you pay down your loan and your home's value holds or grows, that equity becomes real financial cushion. Many homeowners don't realize how much equity they've accumulated, and that can mean missed opportunities. Whether you're thinking about a major project, consolidating debt, or just want to understand your financial picture, knowing your equity position is important. I'd love to help you figure out exactly where you stand and what options that might open up for you. Let's talk about your home's 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
Manila
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