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Mortgage Market Update
My Mortgage Company
Rowley RV - PHX
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 talk about something that happens quietly in the background of home ownership: equity growth. Whether you're new to homeowning or have been paying a mortgage for years, it's worth taking stock of where you stand.
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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—that's the difference between what your home is worth and what you owe on it. Over time, this grows into real wealth. The sooner you start, the more time that equity has to compound. If you're renting, you're building equity for your landlord instead. If you already own, you might be surprised how much equity you've already built, especially if your home has appreciated. That equity can be useful later—whether you want to refinance, make improvements, or access cash when you need it. The key is understanding where you stand right now. I can help you figure out exactly how much equity you have and what options might make sense for your situation.
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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
Rowley RV - PHX
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