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Mortgage Market Update
My Mortgage Company
Jillian Hartman
Thursday, August 27, 2026
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How fast are you building equity? |
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Hi there. This week I want to remind you of something powerful about homeownership—you're building real wealth with every 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
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe on it. Over time, this becomes real wealth. The sooner you start, the more you build, especially if you're able to make extra payments toward principal. Refinancing to a shorter loan term is one way some homeowners accelerate this process, though it does mean a higher monthly payment. Others simply round up their payments or add an extra payment each year. The key is knowing what options fit your situation. I'd love to show you how different strategies could work in your scenario. Let's talk about how to maximize your equity over time.
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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
Jillian Hartman
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