LaTisha Elliott, Mortgage Loan Advisor · August 27, 2026

How much equity have you built?

Mortgage Market Update

My Mortgage Company

LaTisha Elliott, Mortgage Loan Advisor

Thursday, August 27, 2026

How much equity have you built?

Here's something I remind clients about regularly: homeownership isn't just about having a place to live. Welcome to this week's newsletter.

National Mortgage Rates · August 20, 2026

30-Year Fixed

6.65%

FHA 30-Year

6.53%

VA 30-Year

6.32%

Rate trend

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.


Equity Building

Your home builds wealth while you sleep

Every mortgage payment you make does two things: it keeps a roof over your head and it builds equity in your home. That's money that's genuinely yours. Over time, as you pay down your loan balance and your home may appreciate, that equity grows into real financial cushion — something you can tap into later for big expenses, renovations, or other goals.

The longer you stay in your home and keep making payments, the faster this happens. It's one of the best reasons homeownership beats renting for so many people. If you're wondering how much equity you've built, or whether it might make sense to explore what you could do with it, I'd love to walk through your situation.

Let's talk about your home's equity and what options might be available to you.

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.

Tips for Homeowners

Understanding Mortgage Points

1.

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.

2.

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.

3.

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.

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.

Your Mortgage Advisor

M

My Mortgage Company

LaTisha Elliott, Mortgage Loan Advisor

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