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Mortgage Market Update
My Mortgage Company
Seth Domnarski
Thursday, August 27, 2026
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How much equity have you built so far? |
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Hello! This week I'm sharing something many homeowners overlook: the steady wealth-building happening in their own home. Let's talk about equity.
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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's equity is quietly working for you
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. Many homeowners don't realize how much equity they've accumulated, especially if they've been in their home for several years. That equity can open doors: it might support a future refinance at better terms, fund home improvements, or provide a financial cushion during unexpected expenses. The best part is you don't have to do anything special—it happens automatically as you pay your loan. If you're curious about where you stand or how to put your equity to work strategically, I'd love to walk through your options with you. Let me give you a quick equity snapshot—just reach out and we'll take a look together.
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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
Seth Domnarski
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