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Mortgage Market Update
My Mortgage Company
Jeff McCarthy
Thursday, August 27, 2026
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What's your home equity worth right now? |
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Hi there. This week I want to talk about something that happens quietly in the background of homeownership—but has real money behind it.
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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 equity is 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. Over time, as you pay down principal and your home appreciates, that equity grows into real financial cushion. It's one of the quietest, most powerful wealth builders available to homeowners. The longer you stay in your home, the more pronounced this becomes. If you've been in your current mortgage for a few years, you may have more equity than you realize. Understanding what you've built matters because it opens doors—whether you want to tap into it for a major expense, refinance into better terms, or simply know where you stand financially. I'd be happy to give you a clear picture of your equity and what options might make sense for your situation. Reach out and let's review where your equity stands today.
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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
Jeff McCarthy
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