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Mortgage Market Update
My Mortgage Company
Levelup Coaching
Thursday, August 27, 2026
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How much equity do you have right now? |
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Life happens between rate conversations, and one of the best things that happens is you building wealth in your home. This week, let's talk about equity—what it is and why it matters.
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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 portion of your home's value that you actually own. It's easy to overlook because the money just goes out each month, but over time, it adds up. That equity can become a safety net, a way to access cash for big expenses, or a tool to refinance into better terms down the road. The longer you own your home, the more this compounds. If you've been in your house for a few years, you might be surprised at how much equity you've already built. Understanding what you have available is a smart first step toward making it work for you. Let me run a quick equity check on your home—I can show you what options might be available.
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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
Levelup Coaching
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