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Mortgage Market Update
My Mortgage Company
ReAnn Gonzalez and Team
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to remind you about one of homeownership's biggest advantages—and how to make the most of 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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Home Equity
Your home is building wealth for you right now
One of the best-kept secrets about homeownership is that you're automatically building equity every time you make a mortgage payment. A portion of that payment goes straight toward owning more of your home, while you're just going about your life. Over time, this adds up—and it can become a real financial asset you can tap into if you need to. Whether it's for a major repair, education, or consolidating debt, home equity opens doors that renters simply don't have. If you've been in your home for a few years, there's a good chance you have more equity than you realize. I'd love to talk through what you might have built up and whether it makes sense to explore your options. Let's take a look at your situation—give me a call this week.
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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
ReAnn Gonzalez and Team
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