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Mortgage Market Update
My Mortgage Company
Summer Britt
Thursday, August 27, 2026
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How much equity are you building? |
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Hi there — it's easy to think of your mortgage as just a monthly bill, but there's something more valuable happening in the background.
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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 quietly working for you
Every mortgage payment you make builds equity — the difference between what your home is worth and what you still owe. Over time, this becomes real wealth you can tap into. Some people use it to fund home improvements, cover education costs, or consolidate debt through a cash-out refinance. Others simply let it grow as a financial cushion. The sooner you start paying down your loan, the faster equity accumulates. If you've owned your home for a few years, you might be surprised how much you've already built. Understanding your equity position is the first step to using it strategically. Let's talk about how much equity you might have and what options could make sense for your situation.
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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
Summer Britt
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