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Mortgage Market Update
My Mortgage Company
American Mortgage
Thursday, August 27, 2026
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How much equity do you have in your home? |
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Hi there. I hope this week finds you well. Today I want to talk about something that many homeowners overlook until they really need it.
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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 still owe. Over time, this becomes real wealth. The sooner you understand how much equity you may have, the sooner you can think strategically about it. Some homeowners use equity to fund home improvements, consolidate debt, or prepare for life changes. Others simply let it grow. Either way, it's worth knowing what you're sitting on. If you've owned your home for a few years, I'd encourage you to reach out. We can discuss your current situation and talk through what makes sense for your goals. Let's have a conversation about your home's equity and what it could mean 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
American Mortgage
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