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Mortgage Market Update
My Mortgage Company
Greg Lomba
Thursday, August 27, 2026
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How much equity do you have in your home? |
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Hi there—this week I want to talk about something that often surprises homeowners: how much equity they've actually built. Let me explain what it means and why it matters to you.
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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 probably bigger than you think
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 adds up to real money. Even if you haven't owned your home long, rising home values in many markets mean you may have more equity than your loan balance reflects. Knowing what you have matters, especially if you're thinking about refinancing, a home improvement project, or just want to understand your financial position better. I'd be happy to help you get a clear picture of where you stand. Reach out and we can talk through your equity and what options might make sense 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
Greg Lomba
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