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Mortgage Market Update
My Mortgage Company
Andrea Ransom
Thursday, August 27, 2026
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How much equity have you built up? |
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Hi there — I hope you're having a great week. Today I want to talk about something that many homeowners overlook: the equity they're quietly building with every payment they make.
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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 growing — here's what you can do with it
Every mortgage payment you make builds equity in your home. That's real wealth sitting in your property, and it opens up options you might not realize are available to you. Whether you're thinking about a major renovation, consolidating debt, or investing in another property, understanding your equity position is the first step. Some borrowers are surprised to learn how much they've built up over just a few years of payments. If you've been in your home for a while and haven't checked your equity in a while, now's a good time. I'd be happy to help you explore what your options might be and whether a cash-out refinance or home equity line of credit could make sense for your situation. Let's talk about what your equity means for your goals.
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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
Andrea Ransom
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