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Mortgage Market Update
My Mortgage Company
Kevin Spain
Thursday, August 27, 2026
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How much equity have you built? |
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Hi everyone—this week I want to remind you of something powerful that's happening with your mortgage, whether you're thinking about it or not.
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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
One of the best parts of owning a home is that your mortgage payment builds equity—real ownership stake—instead of going to a landlord. Every month, a portion of what you pay goes toward principal, meaning you're slowly building wealth in your property. Add in natural appreciation over time, and homeownership becomes a powerful wealth-building tool. If you've owned your home for a few years, you may have built more equity than you realize. That equity can open doors: some people tap it for renovations, consolidate debt, or even help a family member buy their first home. If you're curious whether your equity could work for you in a meaningful way, I'd love to walk through your options with no pressure. Reach out if you'd like to explore what your equity might mean for your next chapter.
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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
Kevin Spain
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