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Mortgage Market Update
My Mortgage Company
Darwin Earl
Thursday, August 27, 2026
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How much equity are you sitting on? |
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Welcome back. This week I want to remind you about one of homeownership's biggest advantages—something that builds quietly in the background but can make a real difference down the road.
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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 building wealth—here's how
Every payment you make toward your mortgage is building equity in your home. That's money that stays with you. Over time, as you pay down the loan and your home's value changes, that equity grows—and it becomes a financial asset you can tap into when you need it. Understanding how much equity you have matters, especially if you're thinking about refinancing, making improvements, or planning ahead. It's one of the most powerful wealth-building tools available to homeowners, and it happens automatically with each payment. If you're curious about your current equity position or wondering how it might work for your situation, I'd be happy to walk you through the details. Let's talk about your home equity and what options make sense 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
Darwin Earl
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