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Mortgage Market Update
My Mortgage Company
Fully Scale
Thursday, August 27, 2026
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The real reason homeowners build wealth |
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Hi there,
This week I want to share something that makes homeownership different from renting—and why it matters to your financial future.
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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 Basics
Your home builds wealth every month
Every mortgage payment you make does two things: it pays interest to your lender, and it pays down your loan balance. That second part is equity—the portion of your home you actually own. Over time, as your balance shrinks and your home's value stays the same or grows, your equity grows with it. This is one of the most powerful reasons people choose to buy instead of rent. If life changes come up and you need cash—for a roof repair, education, or consolidating debt—that equity can become a real option. I'm happy to talk through what you may have built up and what that might mean for you. Curious what your equity position looks like? Let's take a look together.
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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
Fully Scale
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