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Mortgage Market Update
My Mortgage Company
Armando Cornejo
Thursday, August 27, 2026
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How much equity have you built so far? |
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Hi there. This week I want to remind you about one of the best parts of owning your home: the steady progress you're making toward real wealth.
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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 difference between what your home is worth and what you owe on it. It's one of the most powerful wealth-building tools available to everyday homeowners, and it happens automatically as you pay down your loan. Over time, as your equity grows, you gain options: you might refinance into better terms, tap that equity for a major expense, or simply own your home free and clear sooner than you think. The sooner you understand how much equity you have, the sooner you can make informed decisions about your financial future. If you haven't checked your equity position in a while, or you're curious what options it might unlock for you, I'd love to walk through the numbers with you. Reach out anytime—I can give you a clear picture of where you stand.
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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
Armando Cornejo
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