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Mortgage Market Update
My Mortgage Company
Jessica Angulo
Thursday, August 27, 2026
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What is your home actually worth to you? |
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Hi there—this week I want to talk about something that quietly works in your favor every single month: home equity.
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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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Home Equity Basics
Your home builds money while you sleep
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 grows into real wealth. The faster you pay down the loan, the faster equity builds. But equity is useful even before your mortgage is paid off. If your home has appreciated or you've paid down the balance significantly, you may be able to tap that equity through a refinance or a home equity line of credit. Some people use it for home improvements that raise their home's value even more, while others use it for major life expenses. The key is understanding you're not just paying rent to a bank—you're building something that belongs to you. I'd love to talk through your situation and show you what your equity position looks like today. Let's review your equity and explore what options might make sense for 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
Jessica Angulo
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