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Mortgage Market Update
My Mortgage Company
Michael Farrell
Thursday, August 27, 2026
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How much equity do you have? |
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Understanding your finances makes better decisions possible. This week, let's focus on one of the most valuable assets you're building.
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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 is working for you
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe on it. Over time, as you pay down your loan balance and your home appreciates, that equity grows into real financial power. Many homeowners don't realize how much equity they've already built, especially if they've been in their home for several years. Knowing your equity position matters because it can unlock options down the road: whether you're thinking about a major home project, planning for the future, or just curious about your net worth. I'd encourage you to take stock of where you stand. It's a simple conversation that can reveal opportunities you didn't know you had. Let's talk about your home's equity and what options might 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
Michael Farrell
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