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Mortgage Market Update
My Mortgage Company
Omar Brito
Thursday, August 27, 2026
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How much equity are you building? |
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Hello,
This week I'm thinking about one of the quieter wins of homeownership: the wealth you build with every payment. Let me explain.
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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 builds wealth while you sleep
Every mortgage payment you make does two things: it covers interest and builds equity in your home. Over time, that equity grows—sometimes faster than you realize. If your home's value has appreciated or you've paid down your loan balance, you may have meaningful equity available. That equity can be a financial tool: some people use it to fund home improvements, cover unexpected expenses, or refinance into better loan terms. The key is understanding what you have and what options make sense for your situation. If you're curious whether your equity position has changed, I'd like to take a look and walk you through what it could mean for your finances. Reach out anytime—I'm happy to discuss your equity and what it might unlock for 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
Omar Brito
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