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Mortgage Market Update
My Mortgage Company
Amy Gargala
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hello,
This week I'm covering something that often surprises homeowners—how much their home is actually working for them financially.
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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 thing I love explaining to clients is how their monthly mortgage payment is an investment, not just an expense. Every payment you make builds equity—that's the difference between what your home is worth and what you owe on it. Over time, this adds up significantly. If you've owned your home for a few years, you likely have more equity than you realize. That equity can be tapped for major expenses, home improvements, or even to help a family member without going through other borrowing. The more you understand your equity position, the smarter financial decisions you can make. If you'd like to know where you stand, I'm happy to run the numbers and talk through your options. Reach out and let's take a look at how much equity you've built.
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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
Amy Gargala
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