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Mortgage Market Update
My Mortgage Company
Guy Campbell
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Life happens fast, and so does home equity growth. Here's what you should know about building wealth in your home.
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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. Over time, this compounds. Early on, most of your payment goes toward interest, but as years pass, more of each payment chips away at your principal balance. That's real wealth building happening automatically. If you've been in your home for a few years, you may have built more equity than you realize. Some borrowers tap into that equity for home improvements, debt consolidation, or other goals through a refinance or home equity line. Even if you're not thinking about borrowing against it right now, it's worth knowing what you have. Let's talk about where you stand. I'd be happy to give you a quick equity snapshot—just reach out.
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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
Guy Campbell
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