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Mortgage Market Update
My Mortgage Company
Jeremy Coccimiglio
Thursday, August 27, 2026
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How much home equity do you have? |
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Welcome back. This week I want to talk about something that's working for you even when you're not thinking about it.
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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 Basics
Your home builds wealth while you sleep
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe on it. Over time, as you pay down your loan and your home's value holds steady or appreciates, that equity grows. It's one of the quietest wealth builders available to homeowners. Many people don't realize how much equity they've accumulated until they need it—whether for a major home project, education, medical expenses, or other life goals. If you've been in your home for a few years, it's worth finding out exactly where you stand. I can run a quick assessment and show you what that equity means for your options. Let's take a look at how much equity you've built in your home.
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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
Jeremy Coccimiglio
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