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Mortgage Market Update
My Mortgage Company
Pete Green
Thursday, August 27, 2026
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How much equity do you actually have? |
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Hi there. This week I want to share something that homeowners often overlook, but it's worth paying attention to.
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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 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 on it. Over time, this grows into real wealth. Some of you may not realize how much equity you've already accumulated, especially if you've been in your home for several years. Knowing your equity matters because it opens doors: you might refinance into better terms, tap into it for a major expense, or simply understand your financial position more clearly. If you're curious where you stand, I'd love to run the numbers with you and show you what your equity could mean for your next move. Let's talk about what your equity position looks like—reach out anytime.
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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
Pete Green
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