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Mortgage Market Update
My Mortgage Company
Thomas Johannsen
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Every week I see homeowners surprised by how much their home is worth today compared to what they owe. This week, let's talk about why that matters.
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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 probably worth more than your loan
Every mortgage payment you make builds equity—the difference between what your home is worth and what you still owe. As you pay down your loan over time, that gap grows. If your home has also appreciated in value, your equity can grow even faster. This matters because equity is real wealth you can tap into if life changes—whether that's a home repair, education, or a major expense. If you haven't checked your home's current value in a while, it might be worth a conversation. Knowing your equity position helps you understand all your options, from refinancing to a home equity line of credit. I'd be happy to walk you through where you stand. Let's talk about your equity and what it means for your financial picture.
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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
Thomas Johannsen
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