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Mortgage Market Update
My Mortgage Company
Andrew Weinberg
Thursday, August 27, 2026
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What's your home equity worth right now? |
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Hi there. This week I want to remind you of something that happens automatically every time you make a payment—and why it matters more than you might think.
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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 quietly working for you
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. It's one of the most overlooked wealth-building tools available to homeowners. Over time, as you pay down your loan balance and your home's value potentially grows, that equity becomes real money you can tap into if you need it, whether for home improvements, education, or other major expenses. The longer you stay in your home, the faster this compounds. If you've been in your home for a few years and haven't thought about how much equity you've accumulated, it might be worth a conversation. I'd be happy to give you a quick picture of where you stand. Let's talk about what your equity might mean for your next move.
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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
Andrew Weinberg
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