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Mortgage Market Update
My Mortgage Company
Lending Pad
Thursday, August 27, 2026
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How much equity do you have right now? |
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Hi there—I wanted to share something I think about a lot with my clients: the quiet power of homeownership. Here's what I mean.
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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
One of the best parts about owning a home is that your mortgage payment builds equity instead of paying rent to a landlord. Every payment you make goes partly toward interest and partly toward ownership. Over time, as you pay down the principal, you own more of your home outright. That equity can become real money down the line—whether you want to tap it for a large expense, refinance into better terms, or sell when you're ready to move. The longer you stay in your home and the more you pay down, the more equity grows. If you're curious about how much equity you've built or what options that might open up, I'd love to have that conversation with you. Let's talk about your equity and what it could mean for your financial 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
Lending Pad
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