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Mortgage Market Update
My Mortgage Company
Philip Carcel Munce
Thursday, August 27, 2026
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How much equity do you have right now? |
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Hi there. This week I want to remind you of something that's probably already happening in your favor—your equity is growing.
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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 for you every month
Every mortgage payment you make builds equity—the portion of your home you actually own. As you pay down principal, that equity grows, and it becomes a real financial asset you can tap into if you need it. Many homeowners don't realize how much equity they've accumulated over just a few years of payments. Knowing your equity position matters, whether you're thinking about refinancing, making home improvements, or simply understanding your net worth. If you'd like to find out how much equity you may have built up, I'm happy to run those numbers for you. Let's talk about your equity—reach out anytime.
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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
Philip Carcel Munce
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