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Mortgage Market Update
My Mortgage Company
Ziona Montes
Thursday, August 27, 2026
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Have you checked your home equity lately? |
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Hi there. This week I want to talk about something that often goes unnoticed—but shouldn't. Your home equity is building every single month, and understanding it can help you make smarter money decisions.
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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 owe on it. Most people think of equity as something that happens down the road, but it starts on day one. The more equity you have, the more financial flexibility you unlock: you can refinance into better terms, tap it for major expenses, or use it as a down payment on your next move. Some homeowners are surprised to learn how much equity they've built just by paying their loan on schedule. If you haven't checked your equity position in a while, it might be worth a conversation. I can walk you through what you have and what options that opens up for you. Let's talk about your home's equity and what it means for your financial picture.
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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
Ziona Montes
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