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Mortgage Market Update
My Mortgage Company
Ken Osako
Thursday, August 27, 2026
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How much equity do you have right now? |
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Hi there. This week I want to focus on something that happens quietly in the background of homeownership but adds up to real money over time.
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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 portion of your home's value you actually own. Over time, as you pay down your loan balance, your equity grows. This matters because equity gives you options: you can borrow against it later if you need to, use it to make home improvements, or build real wealth over the life of your loan. The longer you stay in your home, the more meaningful this becomes. If you've been in your house for a few years already, you might be surprised how much equity you've accumulated. I'd love to pull a quick snapshot of your situation and show you exactly where you stand. Let's talk about what your equity means for your financial future.
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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
Ken Osako
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