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Mortgage Market Update
My Mortgage Company
Joseph O'Connell
Thursday, August 27, 2026
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How much of your home do you actually own? |
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Hi there. This week I want to talk about something that's building quietly in the background of your mortgage—and why it's worth paying attention to.
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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—the portion of your home you actually own. It's easy to overlook because the money goes directly to your lender, not into your bank account. But over time, as you pay down principal and your home holds its value, that equity becomes real wealth. Whether you're five years into your mortgage or twenty, you're likely sitting on something valuable. Understanding how much equity you have matters because it opens doors: refinancing options, home improvement financing, or even a future purchase. I'd be happy to give you a sense of where you stand and what that could mean for your financial picture. Reach out anytime—a quick conversation could show you what your equity can do 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
Joseph O'Connell
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