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Mortgage Market Update
My Mortgage Company
Michael Denzy
Thursday, August 27, 2026
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How much equity have you built so far? |
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Every month brings you closer to owning your home outright. Here's what you should know about the equity you're building.
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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 mortgage is working for you every month
Every 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 equity grows as you pay down principal and as your home's value holds or appreciates. Many homeowners forget this is happening in the background, but it's real money working in your favor. If you're curious about how much equity you've built, or whether you could tap into it for a large expense or investment, I'd love to walk you through your options. It helps to know what you're working with. Reach out and we can calculate your current equity position.
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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
Michael Denzy
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