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Mortgage Market Update
My Mortgage Company
Corey Riggs
Thursday, August 27, 2026
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How much equity do you have right now? |
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Understanding your finances means knowing what you own—not just your home, but the equity in it. Here's why that matters.
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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 Basics
Your home equity is working for you
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Over time, this equity grows, and it becomes a real financial asset you can tap into if you need it. Whether you're thinking about home improvements, education costs, or consolidating debt, understanding your equity position helps you make smarter decisions about borrowing. The longer you stay in your home and the more your property appreciates, the stronger your equity position becomes. If you're curious about how much equity you've built so far, I'd be happy to take a look at your loan and help you explore your options. Let's talk about what your equity means for your financial goals.
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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
Corey Riggs
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