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Mortgage Market Update
My Mortgage Company
Benjamin Segovia
Thursday, August 27, 2026
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Your payment is building more than you think |
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Hi there. This week I want to pull back the curtain on something that happens quietly in the background of homeownership.
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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
How your mortgage payments are working for you
Every mortgage payment you make does two things: it covers interest to your lender, and it builds equity in your home. Early on, most of your payment goes toward interest, but as time passes, more goes directly to ownership. This is one of the quiet wins of homeownership—you're building wealth month after month, even when rates or markets shift. Understanding this can help you make smarter decisions about whether to refinance, tap into your equity, or just keep moving forward. I'd love to talk through where you stand and what your equity might mean for your future. Let's review your loan and discuss what your equity could do for you.
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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
Benjamin Segovia
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