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Mortgage Market Update
My Mortgage Company
Julie Gallegos
Thursday, August 27, 2026
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How much equity are you building? |
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We're seeing a lot of homeowners realize they've built more equity than they expected. Here's what you should know about why it matters.
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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 now
Every mortgage payment you make builds equity in your home. That's the difference between what your home is worth and what you still owe. Over time, this becomes a financial asset you can actually use. Some homeowners tap into their equity through a refinance or a home equity line of credit when they need funds for major expenses, home improvements, or debt consolidation. The more equity you've built, the more options become available to you. If you've been in your home for a few years and are curious about what you've built up, it's worth taking a closer look. I can help you understand your current position and explore what might make sense for your situation. Let's talk about your equity and what options might work 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
Julie Gallegos
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