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Mortgage Market Update
My Mortgage Company
Eduardo Villagomez
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there. I want to share something important about homeownership that doesn't always get the attention it deserves.
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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 thinking about it
Every mortgage payment you make builds equity in your home. That's money that belongs to you, and it grows automatically over time as you pay down your loan balance. Beyond payments, your home's value itself can increase, adding even more equity to your net worth. Understanding what equity you have now matters because it opens doors later—whether you want to tap into it for home improvements, consolidate debt, or refinance into better terms. I see homeowners surprised by how much equity they've built after just a few years of consistent payments. If you've owned your home for a while and haven't checked your equity position recently, now's a good time. Let's talk about what that means for your financial picture. Reach out if you'd like to discuss your equity and what options might be available to 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
Eduardo Villagomez
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