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Mortgage Market Update
My Mortgage Company
Pooja Oberoi
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there. This week I want to walk you through one of the best side effects of homeownership—and why it matters more than you might think.
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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—the difference between what your home is worth and what you owe. This happens in two ways: as you pay down the loan balance, and as your home may appreciate over time. The longer you stay in your home, the more equity you accumulate, which gives you options down the road. You can tap into that equity for a major expense, use it as a down payment on another property, or simply enjoy the security of owning more of your home outright. If you've been in your house for a while, it's worth taking a look at where you stand. You might be surprised at how much wealth you've built. Let's review your equity position and talk through what it means for your financial picture.
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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
Pooja Oberoi
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