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Mortgage Market Update
My Mortgage Company
Joseph A Worrell - For Deletion
Thursday, August 27, 2026
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The equity in your home might surprise you |
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Hello,
This week I want to touch on something that quietly works in your favor every single month.
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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 101
Your home's equity is growing—here's why it matters
Every mortgage payment you make builds equity in your home. It's the difference between what your home is worth and what you still owe—and it's one of the most powerful wealth-building tools available to homeowners. As you pay down your loan and (hopefully) your home appreciates over time, that equity grows. Understanding this matters because it opens doors: you can borrow against it for major expenses, use it toward a down payment on another property, or simply know you're building real financial security month after month. Many people don't realize how much equity they've accumulated until they need it. Let's sit down and talk about your home's equity and what options might make sense for you.
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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
Joseph A Worrell - For Deletion
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