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Mortgage Market Update
My Mortgage Company
Tamara Kammo
Thursday, August 27, 2026
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How much equity have you built? |
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It's easy to focus on your monthly mortgage payment and forget about the bigger picture. But something important is happening behind the scenes.
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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 building wealth for you
Every mortgage payment you make does two things: it puts a roof over your head and it builds equity in your home. That's the part of your home's value you actually own, free and clear. Over time, as you pay down your loan balance and your home appreciates, that equity grows—and it becomes one of your most valuable financial assets. Many homeowners don't realize how much equity they've built until they need it. Whether you're thinking about a major home renovation, your kids' education, or weathering an unexpected expense, that equity can be accessed through a home equity line or loan. It's your money, waiting for you. If you'd like to know roughly how much equity you might have built, I'm happy to give you a quick estimate.
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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
Tamara Kammo
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