Austin Waters · August 27, 2026

What you should know about your home equity

Mortgage Market Update

My Mortgage Company

Austin Waters

Thursday, August 27, 2026

What you should know about your home equity

Building a strong financial foundation starts at home. This week, I want to share something that often goes overlooked—the real power of equity.

National Mortgage Rates · August 20, 2026

30-Year Fixed

6.65%

FHA 30-Year

6.53%

VA 30-Year

6.32%

Rate trend

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.


Equity Building

Your home is working for you—here's how

Every mortgage payment you make builds equity in your home. That's money that stays in your pocket, not the lender's. Over time, as you pay down your loan balance and your home may appreciate, that equity grows into real wealth—something you can tap into if you need it later, whether for repairs, education, or other major expenses.

Understanding your equity matters more than you might think. It's not just a number on paper; it's financial security you're building month by month. The sooner you understand how much equity you have and what you can do with it, the better equipped you'll be to make smart decisions about your home and your money. I'd love to talk through where you stand and what options might make sense for you.

Let's review your equity position and explore what's possible.

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.

Tips for Homeowners

Understanding Mortgage Points

1.

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.

2.

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.

3.

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.

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.

Your Mortgage Advisor

M

My Mortgage Company

Austin Waters

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