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Mortgage Market Update
My Mortgage Company
Dan Preston
Thursday, August 27, 2026
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The money you're building without realizing it |
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Hi there! This week I want to highlight something that makes homeownership such a powerful long-term move.
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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 mortgage is building wealth every month
Here's something that might surprise you: every payment you make on your mortgage is working for you in two ways. Part of it goes toward interest, sure, but the rest reduces what you owe and builds equity in your home. Over time, that equity becomes real wealth you can tap into—whether that's through a home equity line, a cash-out refinance, or simply having a larger down payment when you're ready to move. The longer you stay in your home, the faster that equity grows, especially once you're several years into the loan. Understanding this difference between what you owe and what your home is worth is one of the most important money moves a homeowner can make. If you'd like to understand where your equity stands today, I'd be happy to walk through it with 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
Dan Preston
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