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Mortgage Market Update
My Mortgage Company
Allison McPike
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there—this week we're talking about one of homeownership's best features: building wealth through your mortgage.
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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 still owe. It's one of the most powerful wealth-building tools available to homeowners, and it happens automatically. Over time, as you pay down your loan balance and your home's value holds (or grows), that equity grows too. The longer you stay in your home, the more meaningful this becomes. Some homeowners don't realize they have enough equity to tap into for major expenses, home improvements, or other financial needs. If you're curious whether you've built meaningful equity since buying, or if you're wondering how to use it strategically, I'd like to walk you through your options. Let's talk about what your equity means for your financial picture.
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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
Allison McPike
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