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Mortgage Market Update
My Mortgage Company
Quail Man Inc
Thursday, August 27, 2026
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How much equity have you built? |
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Hello,
This week I want to talk about something that quietly works in your favor every single month: home equity.
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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 isn't just a number—here's why it matters
Every mortgage payment you make builds equity in your home. That's the portion of your property's value that you actually own, and it grows in two ways: as you pay down your loan balance, and if your home appreciates. The reason this matters is simple—equity is financial flexibility. Down the road, you might tap into it for a major expense, fund an improvement, or refinance on better terms. The sooner you understand how much equity you've built, the sooner you can think strategically about your financial options. If you're not sure where you stand, I'm happy to give you a clear picture of your equity position and talk through what it could mean for your future. Reach out anytime—I can pull a quick equity snapshot for you.
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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
Quail Man Inc
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