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Mortgage Market Update
My Mortgage Company
Jimmy Everetts
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to remind you of something that's quietly working in your favor: the equity you're building in your home.
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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 right now
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this becomes real wealth. The sooner you start, the more equity you accumulate. If you bought a few years ago, you may have built more than you realize, especially if your home's value has appreciated. That equity can open doors down the line: it can fund home improvements, cover emergencies, or become leverage if you ever need to refinance or take out a line of credit. The key is understanding where you stand right now. If you're curious about how much equity you've built, or whether it makes sense to tap into it for something you've been planning, I'd love to walk you through the numbers. Reach out and let's talk about your equity position—there might be more there than you think.
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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
Jimmy Everetts
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