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Mortgage Market Update
My Mortgage Company
Shantian Simmons's Account
Thursday, August 27, 2026
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What your monthly payment is really building |
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Hi there. This week, I wanted to remind you of something that often gets overlooked when homeowners focus on their mortgage payment.
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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
Most people think of their mortgage as just a monthly bill, but something powerful happens with every payment you make: you're building equity. That's the difference between what your home is worth and what you still owe. As you pay down your loan balance, that gap grows. Over time, this equity becomes real wealth you can tap into if you need it—whether that's for home improvements, education, or other goals. The longer you stay in your home and keep making payments, the stronger your financial position becomes. If you're curious about how much equity you may have built up, or whether refinancing or a home equity option makes sense for your situation, I'd be glad to take a look at your numbers. Reach out anytime—I can run the numbers and show you what your equity might look like.
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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
Shantian Simmons's Account
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