Julie Swenson · August 27, 2026

Your home equity is working for you

Mortgage Market Update

My Mortgage Company

Julie Swenson

Thursday, August 27, 2026

Your home equity is working for you

Hi there, I'm writing this week about something that's quietly building in your favor every single month—and it's worth understanding.

National Mortgage Rates · August 20, 2026

30-Year Fixed

6.65%

FHA 30-Year

6.53%

VA 30-Year

6.32%

Rate trend

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.


Equity Basics

Your home equity is growing—here's why it matters

Every mortgage payment you make builds equity in your home. That's the difference between what your house is worth and what you still owe. Over time, as you pay down your loan and your home appreciates, that equity becomes real wealth you can tap into if you need it.

Why does this matter? Because equity is often one of the biggest financial assets most homeowners have. Whether you're thinking about a major home project, handling an unexpected expense, or planning years ahead, understanding your equity and the options available to you puts you in a stronger position. If you'd like to talk through what equity you may have built and how it could work for you, I'm here to help.

Let's chat about your home and what equity opportunities might be available to you.

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.

Tips for Homeowners

Understanding Mortgage Points

1.

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.

2.

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.

3.

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.

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.

Your Mortgage Advisor

M

My Mortgage Company

Julie Swenson

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