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Mortgage Market Update
My Mortgage Company
David Coldiron's Account
Thursday, August 27, 2026
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How much equity do you actually have? |
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Hi there. This week I want to talk about something that happens automatically on your side—equity building. It's one of the best-kept secrets 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 Building
Your home is working for you while you sleep
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Over time, this becomes real wealth you can tap into. Some borrowers use their equity to refinance into better terms, fund home improvements, or even borrow against it for other goals. The longer you stay in your home, the faster equity typically grows. If you've been in your current loan for a few years, it might be worth checking where you stand. Understanding your equity position is one of the smartest money moves you can make as a homeowner—it helps you plan ahead and spot opportunities you might not have considered. If you'd like to know how much equity you've built, I'm happy to walk you through it.
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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
David Coldiron's Account
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