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Mortgage Market Update
My Mortgage Company
Tyson Letourneau
Thursday, August 27, 2026
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How much equity do you have right now? |
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Hi there. This week I want to talk about something that works quietly in your favor every single month: building equity 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—here's how
Every mortgage payment you make builds equity in your home. That's the difference between what your home is worth and what you still owe on it. Over time, as you pay down your loan and your home appreciates, that equity grows—and it's one of the most powerful wealth-building tools available to homeowners. You can tap into that equity later if you need to, whether for a home improvement, education, or other major expense. The longer you stay in your home and keep making payments, the stronger your financial position becomes. If you're curious about how much equity you may have built, or whether it makes sense to explore your options, I'd love to talk through it with you. Let's grab a quick call to review where you stand with your home's equity.
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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
Tyson Letourneau
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