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Mortgage Market Update
My Mortgage Company
Justin Greenberg
Thursday, August 27, 2026
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How much equity have you built? |
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Each week, I share what's on homeowners' minds and what you should know about mortgages, rates, and smart money moves. This week: the quiet power of building equity.
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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 while you sleep
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Over time, this becomes real wealth you can tap into. Many homeowners don't realize how much equity they've accumulated, especially if they've been in their home for several years. Understanding your equity position matters because it opens doors: you might refinance into better terms, take out a home equity line of credit for a major project, or simply feel more confident about your financial future. The longer you hold your mortgage and the more you pay down, the more this works in your favor. If you're curious about how much equity you've built or what options that might unlock, I'd love to walk through your situation. Let's talk about what your equity means for your next move.
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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
Justin Greenberg
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