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Mortgage Market Update
My Mortgage Company
Nicole Farmer
Thursday, August 27, 2026
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How much equity are you building right now? |
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Every month, your mortgage payment does double duty: it keeps a roof over your head and builds your net worth. This week we're talking about why that matters.
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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
One of the quieter benefits of homeownership is that each mortgage payment builds equity—the difference between what your home is worth and what you owe on it. Over time, this compounds. That equity becomes a financial cushion you can tap into if life changes, or it can simply be the asset you pass forward. The sooner you own your home outright, the sooner you're building real wealth. If you haven't thought about your equity position in a while, it might be worth a conversation. You may have more options than you think—whether that's refinancing into a shorter loan term, making an extra payment or two each year, or understanding what lines of credit you now qualify for. Let me take a look at where your equity stands and what makes sense next.
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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
Nicole Farmer
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