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Mortgage Market Update
My Mortgage Company
Daniel Quinton
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there,
This week I want to remind you about one of homeownership's quietest wins—something that happens automatically with every payment you make.
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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 of the most overlooked benefits of homeownership is that every mortgage payment builds equity—money that belongs to you. As you pay down your loan balance, your stake in the home grows. That equity can become a useful tool down the road, whether you need to tap it for a major expense, fund improvements, or refinance under better terms. The longer you own and the more you pay, the stronger your financial position becomes. If you're curious about how much equity you've built since you bought, or wondering whether your current loan is working as hard as it could for you, I'd be happy to review where you stand. 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
Daniel Quinton
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