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Mortgage Market Update
My Mortgage Company
Peter Denning
Thursday, August 27, 2026
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What your mortgage payments are really building |
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Hi there. This week I want to remind you of something powerful that's happening quietly every single month.
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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. It's one of the most powerful wealth-building tools available, and most homeowners don't realize how much equity they're accumulating over time. The longer you stay in your home, the more you own outright. Some people use their growing equity to refinance into better loan terms, fund home improvements, or tap into it when life happens. If you're curious about how much equity you've built since you bought, or whether your equity might open up new financial options, I'd love to walk through the numbers with you. Let's talk about how your equity can work smarter 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
Peter Denning
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