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Mortgage Market Update
My Mortgage Company
Jon Woodard
Thursday, August 27, 2026
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What's your home's equity worth to you? |
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This week I want to shift focus from rates and payments to something that builds quietly in the background: home equity. It's one of the most powerful tools homeownership offers, and it often goes unnoticed.
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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 harder than you think
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. The longer you stay in your home, the more equity accumulates, and the more options open up. You might refinance at better terms, tap that equity for home improvements or life changes, or simply own your home outright faster. Many people don't realize how much equity they've built until they need it. If you've been in your home for a few years, you might be surprised. I'd love to show you where you stand and what that means for your financial flexibility going forward. Let's talk about your equity and what you can do with it.
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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
Jon Woodard
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