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Mortgage Market Update
My Mortgage Company
Rylan Kilgore
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Building equity is one of the best parts of homeownership. This week, I want to help you understand what you've already built and what that opens up for 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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Home Equity
Your home is working for you—here's how
If you've been paying your mortgage for a few years, you likely have equity built up in your home. That's real wealth sitting there—the difference between what your home is worth and what you still owe on it. The reason this matters is simple: equity gives you options. You might refinance to a better loan term, tap into that equity for a major expense or improvement, or simply feel more secure knowing your ownership stake is growing. The more you've paid down your loan and the more your home has appreciated, the more equity you have to work with. If you're curious whether you have enough equity to make a move, or you're just wondering where you stand, I'd love to walk you through it. Let's talk about what your equity could mean 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
Rylan Kilgore
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