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Mortgage Market Update
My Mortgage Company
John Ludwikoski
Thursday, August 27, 2026
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Have you checked your home equity lately? |
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It's easy to focus on your monthly payment and forget about the bigger picture. But something powerful is happening behind the scenes.
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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—that's 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 appreciates, that equity grows. The sooner you start, the more time it has to compound. Some homeowners don't realize they've built enough equity to refinance, tap into a home equity line, or even make a larger down payment on a second property. If you've been in your home for a few years, it's worth checking where you stand. Let's talk about what your equity means for your financial future. Reach out and we can review how much equity you've built and what options might be available to 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
John Ludwikoski
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