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Mortgage Market Update
My Mortgage Company
Collin Clifford
Thursday, August 27, 2026
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How much equity do you have right now? |
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Building wealth through homeownership isn't flashy—it's steady and real. This week, I want to remind you of one of the best-kept secrets in real estate.
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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—even while you sleep
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe on it. Over time, this becomes real wealth you can tap into. Some homeowners use their equity to refinance into better terms, fund renovations, or cover major expenses. The longer you own your home and the more you pay down the loan, the more equity you accumulate. It's one of the most powerful wealth-building tools available to homeowners, and it happens automatically. If you're curious about how much equity you may have built, or whether it makes sense to use it for your goals, I'd love to walk you through your options. Let's talk about what your equity could do 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
Collin Clifford
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