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Mortgage Market Update
My Mortgage Company
Eric Smith
Thursday, August 27, 2026
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How much equity do you actually have? |
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Hi there. This week I want to walk you through something that often surprises homeowners — how much wealth they've quietly built through 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
Your home equity is working harder than you think
Every mortgage payment you make builds equity — the difference between what your home is worth and what you owe. Over time, this becomes real wealth you can tap into when you need it. Some borrowers don't realize how much equity they've accumulated, especially if they've been in their home for several years or made a larger down payment. Knowing your equity matters because it opens doors: refinancing options, home improvement loans, or even a financial cushion in tough times. If you're not sure where you stand, I'd love to give you a quick picture of your equity and what that means for your options down the road. Let's talk about how much equity you've built and what you might do with it.
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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
Eric Smith
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