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Mortgage Market Update
My Mortgage Company
Lorraine Amador
Thursday, August 27, 2026
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How much equity have you built? |
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I help homeowners understand their finances better so they can make confident decisions. This week, let's look at something that's quietly working in your favor.
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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 equity is working for you
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe. Over time, as you pay down principal and your home's value may appreciate, that equity grows. Many homeowners don't realize how much equity they've built, especially if they've been in their home for several years. Knowing your equity position matters because it opens doors: you may be able to tap into it for renovations, education, or other goals through a home equity line or loan. If you're curious about where you stand, I'd be happy to walk you through it and discuss what options might make sense for your situation. Let's talk about your equity and what it 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
Lorraine Amador
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