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Mortgage Market Update
My Mortgage Company
Cesar Gastiaburu
Thursday, August 27, 2026
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You've built more than you might think |
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Hi there. This week I want to remind you of something powerful that's happening behind the scenes of homeownership.
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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—even when you're not
Every mortgage payment you make builds equity in your home. That's money that stays with you. Over time, as you pay down the loan balance and your home appreciates, that equity grows into real financial power—whether you want to tap into it for a major expense, refinance into better terms, or simply own your home free and clear someday. The sooner you understand how much equity you may have accumulated, the sooner you can make informed decisions about your next move. If it's been a while since you've checked in on where you stand, I'd love to pull a quick snapshot for you and walk through your options. Let's talk about what your equity means for your financial future.
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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
Cesar Gastiaburu
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