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Mortgage Market Update
My Mortgage Company
My Home Mortgage Pros
Thursday, August 27, 2026
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Do you know how much equity you've built? |
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This week we're looking at something a lot of homeowners overlook: the equity you're quietly building every month as you pay your mortgage.
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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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Home Equity Basics
You may have more equity than you realize
If you've owned your home for a few years and made regular payments, you're likely building equity—the difference between what your home is worth and what you owe on your mortgage. This matters because equity can become a tool. Whether your home has appreciated in value, you've paid down principal, or both, that equity is real money sitting in your property. Some borrowers tap into it for major expenses like home repairs or education. Others refinance to consolidate debt at a lower rate. Knowing what you have gives you options and peace of mind. I'd be happy to walk through what your situation might look like. Let's talk about your equity and what it could mean for your goals.
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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
My Home Mortgage Pros
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