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Mortgage Market Update
My Mortgage Company
John Magoffin
Thursday, August 27, 2026
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Your home is building wealth for you |
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Hello,
This week I want to remind you of something that often gets overlooked: the power of your monthly mortgage payment.
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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
How your mortgage actually makes you richer
Every payment you make builds equity—that's the portion of your home's value that you truly own. As you pay down your loan balance, your stake in the home grows, even before the home appreciates. This matters because equity is real wealth you can tap into later through refinancing or a home equity loan if you need funds for repairs, education, or other goals. The sooner you understand how much equity you're building, the sooner you can think strategically about your financial future. I'd be happy to walk you through where you stand right now and what your path to equity looks like. Let's review your equity position and talk through your options—reach out anytime.
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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
John Magoffin
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