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Mortgage Market Update
My Mortgage Company
Rene Montano
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there—this week I want to talk about something that's quietly working in your favor every single month.
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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're not
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. But equity isn't just passive. You can tap into it if you need cash for home repairs, education, or other big expenses through a home equity loan or line of credit. The sooner you start paying down your mortgage, the sooner that equity grows. If you haven't thought about how much equity you may have built up, now's a good time to find out. It could open doors you didn't know were there. Let me pull together what your current equity position looks like—give me a call.
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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
Rene Montano
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