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Mortgage Market Update
My Mortgage Company
Erika Ortiz
Thursday, August 27, 2026
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How much equity do you actually have? |
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Some of the smartest borrowing decisions start with knowing what you own. This week I want to remind you of something that builds quietly in the background.
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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's equity is working for you
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, as you pay down principal and your home appreciates, that equity grows. It's one of the most powerful wealth-building tools available to homeowners, and many people don't realize how much they've accumulated until they need it. Whether you're thinking about a major renovation, consolidating debt, or planning for the future, understanding your equity is the first step. If you're curious about what you've built so far, I'd be happy to sit down and walk through it with you. Knowing your position gives you real options. Reach out this week and let's talk about your equity story.
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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
Erika Ortiz
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