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Mortgage Market Update
My Mortgage Company
Toby Gilchrist
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 talk about something that grows quietly in the background of homeownership.
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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's equity is working for you
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, as you pay down principal and your home potentially appreciates, that equity grows. It's one of the most powerful wealth-building tools available to homeowners, and many people don't realize how much they've accumulated until they need it. Whether you're thinking about a major home project, consolidating debt, or just curious where you stand, knowing your equity position matters. If you'd like to understand how much equity you've built and what options that might open up, I'm here to walk through the numbers with you. Let's take a look at your equity and talk about what it means for your financial picture.
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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
Toby Gilchrist
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