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Mortgage Market Update
My Mortgage Company
Clover Dowdy
Thursday, August 27, 2026
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How much equity do you have right now? |
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Hi there. This week I want to remind you of something powerful that's been happening quietly in the background—you've likely been building real wealth through your mortgage.
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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 every month
Every mortgage payment you make builds equity—you're gradually owning more of your home outright. For homeowners, that equity becomes real money you can access down the road through refinancing, a home equity loan, or when you sell. The longer you stay in your home, the faster this compounds. If you've owned your place for several years, you might be surprised how much equity you've built up. This is one of the reasons homeownership matters so much for long-term wealth. I'd love to walk through your specific situation and show you what your equity picture looks like today. Let's talk about the equity you've built and what options it might open up for you.
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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
Clover Dowdy
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