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Mortgage Market Update
My Mortgage Company
Brian Klotz
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there. I wanted to share something important about homeownership that often flies under the radar—and how it can work in your favor.
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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 even when you're not
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. What's interesting is that equity isn't just about paying down your loan; it also grows when your home's value appreciates. This matters because that equity can become a resource later if you need it, whether for home improvements, education, or other goals. Many homeowners don't realize how much equity they've built until they think about refinancing or selling. If you've been in your home for a few years, it's worth understanding where you stand. I'd be happy to run the numbers with you and show you exactly what you've built. Let's talk about your equity and what options might be available to you.
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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
Brian Klotz
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