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Mortgage Market Update
My Mortgage Company
Jesse Griffith
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to talk about something that's building in your favor whether you realize it or not.
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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 every month
Every mortgage payment you make builds equity—the difference between what your home is worth and what you still owe. Early on, most of your payment goes to interest, but over time, more goes straight to principal. That's real wealth building happening automatically. If you've owned your home for a few years, you may have more equity than you realize. Some borrowers use that equity to refinance into better terms, fund home improvements, or handle major expenses. If you're curious whether your equity could work harder for you—whether through refinancing, a cash-out loan, or just understanding your financial position—I'd love to walk through your options with you. There's no obligation; it's just good to know where you stand. Let me help you understand how much equity you've built and what it could mean for your future.
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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
Jesse Griffith
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