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Mortgage Market Update
My Mortgage Company
Eric Benitez
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there—this week I'm talking about something many homeowners don't think about enough: the equity sitting in their home. Here's why it 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 equity is a financial tool worth knowing
One of the quieter benefits of homeownership is that every mortgage payment builds equity—the portion of your home you actually own. Over time, as you pay down your loan balance, that equity grows, and it can become a real financial resource if you ever need it. Whether it's for home improvements, education, or other major expenses, some homeowners tap into their equity through a refinance or a home equity line of credit. The more you understand what you have available, the better decisions you can make down the road. If you're curious about how much equity you've built or what options might exist for you, I'd be happy to walk through the numbers. Reach out if you'd like a quick equity review—no obligation.
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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
Eric Benitez
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