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Mortgage Market Update
My Mortgage Company
Kris Wootton
Thursday, August 27, 2026
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Do you know how much equity you've built? |
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Here's something easy to overlook: your home is quietly working for you financially every single month. Let me show you how.
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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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Home Equity Basics
Your home builds wealth while you sleep
Every mortgage payment you make does two things: it pays down your loan balance and builds equity in your home. That's real wealth accumulating in an asset you already own. The longer you stay in your home, the more equity you build—and the more financial flexibility that gives you down the road. Whether you're thinking about a major repair, education costs, or a life change, understanding your equity position matters. Many homeowners have no idea how much equity they've built up. I'd encourage you to ask me for a simple equity check—it takes five minutes and might open up options you didn't realize you had. Reach out if you'd like to know where your equity stands today.
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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
Kris Wootton
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