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Mortgage Market Update
My Mortgage Company
Paulina Baque Ramos
Thursday, August 27, 2026
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How much equity do you actually have? |
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Hi there — this week I want to touch on something that often flies under the radar but deserves your attention.
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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 equity is quietly 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 becomes real wealth. Many homeowners don't realize how much equity they've accumulated, especially if they've been in their home for several years. That equity can become a resource if you ever need it: you might tap it for a major expense, consolidate debt, or make home improvements that add value. Understanding your equity position also matters if you're thinking about buying a second property or refinancing. The sooner you get clarity on where you stand, the sooner you can think strategically about your next move. If you'd like to discuss your equity and what options might be available to you, I'm happy to walk through it.
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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
Paulina Baque Ramos
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