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Mortgage Market Update
My Mortgage Company
Priscilla Nieves
Thursday, August 27, 2026
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How much equity are you sitting on? |
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Hi there—this week I want to remind you about one of homeownership's best-kept secrets. The work you're already doing every month is building real wealth.
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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 while you sleep
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe. It's one of the most powerful wealth-building tools available to everyday people, and it happens automatically. Over time, as you pay down your loan balance and (typically) as your home appreciates, that equity grows. The sooner you understand how much you may have, the sooner you can think strategically about it—whether that's using it to fund a renovation, consolidate debt, or tap it for a major life goal down the road. If you've owned your home for a few years or longer, you might be surprised what's built up. I'd love to run a quick equity check for you—no obligation, just information that could open up new possibilities. Reach out anytime you're curious about your home's equity and what options it might unlock 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
Priscilla Nieves
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