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Mortgage Market Update
My Mortgage Company
Shawn Howard
Thursday, August 27, 2026
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How much equity have you built? |
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Welcome back. This week I want to talk about something that often gets overlooked: the equity you're building every single month as a homeowner.
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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 equity is working for you
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe on it. Over time, this becomes real wealth you can tap into if you need it. Some people use their equity to fund home improvements, cover unexpected expenses, or consolidate debt. Others simply let it grow as part of their long-term financial plan. The point is, you're not just paying rent to a bank—you're building something that belongs to you. If you've been in your home for a few years, it might be worth checking in on what that equity looks like now. I can walk you through your options and help you understand what you've built. Let's talk about your equity and what it might 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
Shawn Howard
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