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Mortgage Market Update
My Mortgage Company
FLO Mortgage NMLS 1835856
Thursday, August 27, 2026
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How much equity do you have right now? |
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Hi there. This week I want to remind you of something powerful that's happening with your mortgage: every payment is building your wealth. Let me explain how.
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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 portion of your home's value you actually own. It's one of the most powerful wealth-building tools available, and it happens automatically as you pay down your loan. The sooner you understand how much equity you may have built, the more options open up: a cash-out refinance for home improvements, a line of credit for emergencies, or simply the security of knowing you're building real ownership. If you've been in your home for a few years, it's worth checking in on where you stand. I'm happy to give you a quick snapshot of your equity position and talk through what it might mean for your financial flexibility. Reach out this week and let's take a look at your equity—it might surprise you.
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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
FLO Mortgage NMLS 1835856
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