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Mortgage Market Update
My Mortgage Company
Kimberly Silverman
Thursday, August 27, 2026
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How much equity have you built so far? |
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Hi there. This week I want to remind you of something powerful that's happening in the background of your mortgage: you're building wealth. Here's what you should know.
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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 doing work for you every month
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this grows into real financial strength. Some borrowers don't realize how much equity they've accumulated until they need it for something important: a home improvement, helping family, or covering an unexpected expense. The more you understand your equity position, the more options you have. If you're not sure where you stand, I'd be happy to run the numbers with you. It's a conversation worth having. Let's take a look at your equity and talk about what it means for your 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
Kimberly Silverman
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