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Mortgage Market Update
My Mortgage Company
Jason Inmon
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 remind you of something powerful that's happening with your home right now. Whether you've owned for a few months or many years, your equity is growing.
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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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Building Equity
Your home is working for you every month
One of the best reasons to own a home is that your monthly payment builds equity — you're paying yourself instead of a landlord. Every mortgage payment chips away at what you owe and increases what you own. Over time, this compounds. On top of that, when your home's value goes up (which historically it does), that's equity too. The more equity you have, the more options open up — you might refinance to a better rate, tap into that equity for a major expense, or simply feel more secure. It's easy to forget this is happening while you're focused on making the payment each month, but it's one of the most powerful wealth-building tools available. If you're curious about how much equity you might have built, I'd love to walk through it with you.
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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
Jason Inmon
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