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Mortgage Market Update
My Mortgage Company
Donnie Schneider
Thursday, August 27, 2026
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How much equity do you have right now? |
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Hi there, I hope you're doing well. This week I want to talk about something that happens quietly in the background of homeownership but adds up to real money over time.
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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—the difference between what your home is worth and what you owe. Over time, this becomes real wealth. Some borrowers don't realize how much equity they've already accumulated, especially if they've been in their home for several years. That equity can be useful down the road, whether you want to tap it for a major expense, refinance into better terms, or simply know your financial position. If you're curious where you stand, I'd be happy to run the numbers with you. A quick conversation can show you exactly how much equity you've built and what options might make sense for your situation. Reach out and let's talk about your equity and what it means 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
Donnie Schneider
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