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Mortgage Market Update
My Mortgage Company
Scott Reed
Thursday, August 27, 2026
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How much equity have you built so far? |
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Hi there. This week I want to talk about something that builds quietly in the background of homeownership—and often goes overlooked.
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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 harder than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe on it. Over time, this grows into real wealth. Beyond payments, your home's value itself can increase, which means your equity grows even faster. The sooner you understand how much equity you may have, the more options open up. Some homeowners are surprised to learn they've built enough equity to refinance into better terms, tap into a home equity line, or even make strategic moves with their property. If you're wondering where you actually stand, I'd love to pull a quick snapshot for you. It's eye-opening and free. Reach out and let me show you what your equity picture looks like today.
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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
Scott Reed
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