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Mortgage Market Update
My Mortgage Company
Jerry Siegel
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there — this week I want to talk about something that grows quietly in the background of homeownership: equity.
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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 harder than you think
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 balance and your home's value potentially appreciates, that equity grows. Many homeowners don't realize how much equity they've built until they need it. Whether you're thinking about a major home project, education costs, or just want to understand your financial position better, knowing your equity matters. It can open doors to loans, lines of credit, or refinancing options down the road. If you'd like to talk through what equity you may have built and what it could mean for your situation, I'm here to walk you through it. Reach out if you'd like to discuss your home's equity and what options might be available to 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
Jerry Siegel
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