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Mortgage Market Update
My Mortgage Company
James Zeller
Thursday, August 27, 2026
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How much equity do you have right now? |
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Building equity in your home is one of the smartest ways to build long-term wealth. This week, I'm breaking down why your equity matters and what you can actually do with it.
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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 Basics
Your home's equity is real money you own
As you pay your mortgage each month, you're building equity—the difference between what your home is worth and what you still owe. Over time, this grows, and it becomes one of your most valuable financial assets. Understanding your equity matters because it opens doors: you might refinance into better terms, borrow against it for a major expense, or simply enjoy peace of mind knowing you're building wealth. The longer you stay in your home and the more you pay down the loan, the more equity you accumulate. If you're curious about how much equity you have now, or wondering how it might work for you in the future, I'd love to walk you through it. Let's talk about your equity and what it could 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
James Zeller
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