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Mortgage Market Update
My Mortgage Company
Rachel Barrett's Account
Tuesday, September 1, 2026
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How much equity have you built in your home? |
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Hello, and thanks for staying in touch. This week I want to remind you of something that's probably happening right now in your mortgage account.
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National Mortgage Rates · August 27, 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 quietly building wealth for you
Every mortgage payment you make does two things: it covers interest and reduces what you owe. That second part is equity—the real ownership stake you're building in your home. Over time, as you pay down your loan balance, your equity grows. It's one of the most powerful wealth-building tools available, and it happens automatically whether you think about it or not. Some of you may have built significant equity already, especially if you've been in your home for several years or if your home's value has appreciated. That equity can be tapped for major expenses, home improvements, or other financial goals through a refinance or line of credit. If you're curious about how much equity you've built, or whether it makes sense to use it, I'd love to walk you through your options. Let's talk about what your equity means for your financial future.
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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
Rachel Barrett's Account
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