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Mortgage Market Update
My Mortgage Company
Adrian Petersen
Thursday, August 27, 2026
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How much equity are you sitting on? |
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Hi there—welcome to this week's note. I want to remind you of something powerful that happens quietly in the background of homeownership.
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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. It's easy to focus only on the payment itself, but over time, this is one of the most powerful wealth-building tools available to everyday homeowners. The longer you stay in your home, the more equity accumulates. Some of you may have enough equity now to tap into it for major expenses, renovations, or consolidating debt. Others are just getting started, and that's exactly where you should be. If you're curious about how much equity you've built or whether it makes sense to use some of it, I'd love to walk through the numbers with you—no pressure, just clarity. Let's talk about your equity and what options might work for your situation.
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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
Adrian Petersen
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