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Mortgage Market Update
My Mortgage Company
Shantian Simmons
Thursday, August 27, 2026
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Your mortgage is making you money |
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It's easy to focus on your monthly payment, but there's a bigger story happening behind the scenes. This week, I want to remind you of one of homeownership's best-kept secrets.
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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 mortgage is building wealth—here's how
Every payment you make on your mortgage does something your rent never did: it builds equity in your home. That's real ownership, real wealth. Over time, as you pay down your loan balance and your home holds or appreciates in value, you're creating an asset you can tap into later—whether through refinancing, a home equity line, or selling down the road. The longer you stay in your home, the more powerful this effect becomes. It's one of the most underrated benefits of homeownership, and I find a lot of borrowers don't fully appreciate it until we talk through their long-term picture. If you're wondering what your equity position looks like right now, or how it might change, I'd love to walk through the numbers with you. Reach out anytime—I'm happy to discuss where you stand and what options that opens up.
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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
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