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Mortgage Market Update
My Mortgage Company
Jaclyn Richards
Thursday, August 27, 2026
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What's your home equity worth right now? |
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Hi there. This week I want to talk about something that quietly builds in the background while you're making your mortgage payment every month: 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 equity can work for you
One of the biggest financial wins of homeownership is that your monthly payment builds equity — you're paying down principal, and your home is likely appreciating. Over time, that equity can become a real asset. Whether you're five years into your mortgage or twenty, understanding what you've built is worth knowing. Equity can open doors: it gives you options if you need to refinance, tap into a home equity line of credit, or make improvements. The longer you stay in your home, the more your equity grows. If you'd like to get a clear picture of where you stand — how much equity you've built and what that might mean for your future — I'd be happy to walk through it with you. Let me know if you'd like to talk about your equity and what options it might create.
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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
Jaclyn Richards
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