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Mortgage Market Update
My Mortgage Company
Kenneth Harter
Thursday, August 27, 2026
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What's your home worth to you now? |
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This week I want to talk about something that happens quietly in the background of homeownership — and it's one of the best reasons to own instead of rent.
Your equity is real money, and it's building with every payment.
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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, even when you sleep
Every mortgage payment you make builds equity — that's the difference between what your home is worth and what you still owe. Over time, this becomes real wealth you can tap into if you need it. Some homeowners use equity to fund renovations, pay for education, or handle emergencies without taking on high-interest debt. The longer you stay in your home and the more you pay down the loan, the faster your equity grows. If you've been in your home for a few years, you might be surprised by how much you've already built up. I'd love to help you understand your current equity position and explore what options might be available to you. Reach out this week, and we can take a look at 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
Kenneth Harter
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