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Mortgage Market Update
My Mortgage Company
Bo Grant
Thursday, August 27, 2026
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How much equity do you have now? |
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As we head into a new season, it's a good time to think about the financial progress you've made. One number worth knowing: your 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 is working for you every month
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this becomes real wealth. The sooner you start, the more time that equity has to grow. If you bought a few years ago, you may have built up more than you realize, and that equity can open doors: refinancing options, home improvement financing, or even a future purchase. I'd encourage you to take stock of where you stand. A quick conversation can show you exactly how much equity you've accumulated and what that means for your next move—whether that's staying put, upgrading, or something else entirely. Let's calculate your equity and explore what options might be available to 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
Bo Grant
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