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Mortgage Market Update
My Mortgage Company
Julie Jacobsen
Thursday, August 27, 2026
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How much equity do you actually have? |
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Welcome back. This week, I want to remind you of something powerful that happens quietly while you live your life.
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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 thinking about it
Every mortgage payment you make builds equity in your home — that's the difference between what you owe and what your home is worth. Over time, this becomes real wealth. The longer you own, the more equity accumulates, and that opens doors: you might refinance into better terms, tap that equity for a major expense, or simply own your home outright sooner than you think. Some borrowers don't realize how much equity they've built until they need it. If you've owned your home for a few years, it's worth taking a closer look at where you stand. I'd be happy to pull a quick snapshot of your equity position and talk through what options might make sense for your situation. Let's discuss your equity and what it could mean for your financial goals.
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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
Julie Jacobsen
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