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Mortgage Market Update
My Mortgage Company
Elisa Ryken
Thursday, August 27, 2026
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You've probably built more equity than you think |
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Hello,
This week I want to highlight something many homeowners don't pay enough attention to—the equity they're building month after month.
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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 working for you
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe on it. Over time, as you pay down the loan and your home appreciates, that equity grows. It's real wealth sitting in your property. The reason this matters: equity can become useful if you need cash for a major expense, want to consolidate debt, or plan a renovation. You don't have to tap into it, but knowing it's there and understanding how to access it if needed is smart financial planning. If you're curious about how much equity you've built or whether it makes sense to explore your options, I'd be glad to walk you through it. Let me know if you'd like to discuss your equity and what it might 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
Elisa Ryken
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