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Mortgage Market Update
My Mortgage Company
Janice Carroll
Thursday, August 27, 2026
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How much equity have you built? |
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Hello,
This week I want to remind you of something powerful that happens quietly in the background of homeownership.
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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 Basics
Your home is building wealth for you
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe on it. Early on, most of that payment goes toward interest, but over time, you're steadily chipping away at the principal and growing your stake in the property. This matters because equity is real wealth. You can tap into it later through a refinance or home equity line if you need cash for repairs, education, or other goals. The longer you stay in your home and keep making payments, the stronger your financial position becomes. If you've been a homeowner for a while, you might be surprised how much equity you've already built. If you'd like to talk about what your equity could do for you, I'd love to help.
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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
Janice Carroll
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