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Mortgage Market Update
Gary Bourgeois
Gary Bourgeois
Monday, August 31, 2026
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How much equity have you built so far? |
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Hi there—I'm sharing what's on my mind this week about homeownership and money.
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National Mortgage Rates · August 27, 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 portion of your home's value you actually own. It's easy to overlook because the money goes to your lender, not your pocket, but over time this adds up to real wealth. The longer you stay in your home, the faster equity grows, especially if your home appreciates or you refinance to a shorter loan term. Knowing your equity matters because it gives you options down the road: you might tap it for a home improvement, use it to avoid PMI on a refinance, or simply feel more financially secure. I'd love to help you understand where your equity stands today and what it might mean for your future. Reach out and let's talk about your equity position—I can pull your numbers and walk you through it.
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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 Gary Bourgeois team any time and we'll walk you through your options. |
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