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Mortgage Market Update
My Mortgage Company
Ashley Turner - For Deletion
Thursday, August 27, 2026
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How much equity have you built? |
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Hello, and thanks for being part of our community. This week, I want to talk about something that's working in your favor whether you pay attention to it or not.
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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
You might have more home equity than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, as you pay down your loan and your home's value potentially increases, that equity grows. It's one of the smartest ways wealth builds quietly in the background. If you've owned your home for a few years, you may have built up more equity than you realize. Knowing your equity matters because it can open doors—whether you need to refinance, tap into funds for a major project, or just understand your financial position better. I'd love to give you a quick equity snapshot if you haven't checked in a while. Reach out if you'd like to discuss what your equity position looks like today.
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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
Ashley Turner - For Deletion
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