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Mortgage Market Update
My Mortgage Company
Donivan Norton
Thursday, August 27, 2026
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How much equity have you built? |
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Welcome to this week's message. I'm sharing something homeowners often overlook until they need it most.
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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 even when you're not
Every mortgage payment you make does two things: it covers interest to your lender, and it builds equity in your home. Over time, that second part becomes a real asset—money that's genuinely yours. Equity also opens doors: you can borrow against it for major expenses, renovations, or life changes without refinancing your entire loan. The longer you stay in your home and the more you pay down the principal, the stronger your financial position becomes. If you're curious about how much equity you've built so far, or whether tapping into it makes sense for your situation, I'd love to walk you through your options. Let's talk about what your equity can do 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
Donivan Norton
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