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Mortgage Market Update
My Mortgage Company
Michelle Knight
Thursday, August 27, 2026
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What's your home equity worth right now? |
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Good morning. This week I want to remind you of something powerful that happens quietly in the background: your home is building wealth for you.
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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—here's how
Every mortgage payment you make builds equity in your home. That's money that stays with you, not your lender. Over time, as you pay down your loan balance and your home may appreciate, that equity grows—and it becomes an asset you can tap into if you need it. Some homeowners use their equity to fund renovations, pay for education, or cover emergencies through a home equity line of credit or refinance. The longer you stay in your home and the more consistently you pay, the stronger that position becomes. If you've been in your home for a few years, it might be worth checking where you stand. I'd love to walk through your situation and show you what that equity could mean for your future. Let's talk about how much equity you've built and what options might be available to 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
Michelle Knight
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