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Mortgage Market Update
My Mortgage Company
Financial Mortgage Corp
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 works quietly in the background of homeownership: equity. It's one of the most powerful tools available to you.
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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 every month
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Over time, this becomes real wealth you can tap into through refinancing, a home equity line of credit, or even a future sale. The sooner you start, the more equity you accumulate. If you've owned your home for a few years, you may be surprised how much you've built up already. Understanding your equity position helps you make smarter decisions about when to refinance, whether to take cash out for improvements, or how to plan your next move. I'd love to help you figure out where you stand and what options make sense for your situation. Let's run the numbers on your equity and explore what's possible.
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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
Financial Mortgage Corp
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