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Mortgage Market Update
My Mortgage Company
Nick Robertson
Thursday, August 27, 2026
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You might have more equity than you realize |
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Here's something worth thinking about this week: your home isn't just a place to live, it's building wealth for you automatically. Let me explain what that means and why it matters.
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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—even if you don't realize it
Every mortgage payment you make builds equity in your home. That's money you're keeping instead of paying a landlord. But equity isn't just about the principal you've paid down—it also grows when your home's value appreciates over time. If you've owned your home for a few years, you may have more equity than you think. That equity can be useful: it's often the foundation for a cash-out refinance if you need funds for home repairs, education, or other goals. The longer you own your home and the more you pay down the loan, the stronger your financial position becomes. It's one of the quieter but most powerful benefits of homeownership. If you're curious about how much equity you've built, I'd love to talk through your options—just reach out anytime.
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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
Nick Robertson
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