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Mortgage Market Update
My Mortgage Company
test test's Account
Thursday, August 27, 2026
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Your home equity, explained simply |
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Hello! This week I want to talk about something that grows quietly in the background of homeownership—and why it matters to your financial future.
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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
What your home equity can do for you
As you make your mortgage payments each month, you're building equity—the difference between what your home is worth and what you owe on it. This equity isn't just a number on paper. It can become real money when you need it. Some homeowners tap into their equity to fund home improvements, consolidate debt, or cover major expenses. Others keep building it as a long-term wealth builder. The path forward depends on your goals and situation. If you've been in your home a while or have watched its value grow, it might be worth exploring what options are available to you. I'd be happy to walk you through the possibilities. Let's talk about how much equity you might have and what it could mean for your finances.
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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
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