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Mortgage Market Update
My Mortgage Company
Ann Richardson
Thursday, August 27, 2026
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How much equity do you actually have? |
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Building a home means building wealth. This week, let's talk about one of the most powerful tools most homeowners overlook.
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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's equity is your best financial tool
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 your loan and your home appreciates, that equity grows into real wealth you can tap into. Some of my clients are surprised to learn they've built enough equity to refinance into better terms, or to access cash for home repairs, education, or other goals through a home equity line of credit. The sooner you understand your equity position, the sooner you can make it work for you. If you haven't reviewed your equity in a while, now's a good time to take stock of where you stand. Let's talk about what your equity means for your financial goals—reach out anytime.
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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
Ann Richardson
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