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Mortgage Market Update
My Mortgage Company
Richard Pisnoy
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to talk about something that's quietly working 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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Equity Building
Your home is working for you while you sleep
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Many homeowners don't realize how much equity they've accumulated over time, especially if you've owned your home for several years. That equity can become a tool: some people tap into it for home repairs, education, or other big expenses through a home equity line of credit or loan. Others simply watch it grow as part of their long-term wealth plan. The key is knowing what you have. If it's been a while since you've thought about your home's value or your loan balance, it might be worth a conversation. I can help you get a clear picture of where you stand. Let me know if you'd like to discuss 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
Richard Pisnoy
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