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Mortgage Market Update
My Mortgage Company
Mpire Paid Workflows
Thursday, August 27, 2026
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How much equity are you sitting on? |
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Welcome back. This week I want to remind you of something easy to forget when you're just making your monthly payment: your home is building wealth.
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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 working for you
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this becomes real wealth. Some of you have been in your homes long enough to have meaningful equity available, whether you need it for a major repair, education, or consolidating debt. Others are just getting started, and that's fine too. The point is to understand that homeownership isn't just about having a place to live; it's an asset that grows as you pay down your loan. If you'd like to talk about what equity you might have and what options could be available to you, I'd love to help you take stock. Let's discuss whether your equity could work harder for you right now.
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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
Mpire Paid Workflows
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