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Mortgage Market Update
My Mortgage Company
Mauricio Valencia
Thursday, August 27, 2026
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How much equity is your home building? |
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Hi there, this week I want to touch on something many homeowners overlook—the equity they're quietly building in their homes. Let me explain why it matters and what you can do with it.
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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 Awareness
Your home is building wealth—here's what that means
If you've owned your home for a few years, you likely have equity—the difference between what your house is worth and what you still owe on the mortgage. That's real wealth building happening automatically with every payment you make. Some homeowners don't realize how much equity they've accumulated, or they're unsure what to do with it. Whether you're thinking about a major renovation, managing other debt, or just curious about your financial position, understanding your equity is worth a conversation. I can help you figure out what you have and what your options might look like. Let's talk about your home's equity and what it could mean 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
Mauricio Valencia
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