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Mortgage Market Update
My Mortgage Company
Michael Rosenblum
Thursday, August 27, 2026
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How much equity do you actually have? |
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A lot happens between closing day and today. Here's what's worth paying attention to this week.
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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 Awareness
Your home is building wealth—here's why it matters
Every mortgage payment you make builds equity in your home. That's the difference between what your home is worth and what you still owe—and it's one of the most powerful wealth-building tools available to everyday homeowners. As you pay down your loan and your home appreciates, that equity grows. Understanding how much you have can open doors: you might refinance into better terms, tap into that equity for major expenses, or simply feel more confident about your financial position. If you haven't checked your home's current value or thought about your equity in a while, now is a good time. I'm happy to walk through what you have and what options might make sense for your situation. Reach out if you'd like to discuss your equity and what it could mean for your next financial move.
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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 Rosenblum
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