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Mortgage Market Update
My Mortgage Company
LokelList
Thursday, August 27, 2026
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What's your home's equity worth to you? |
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Hi everyone—this week I want to talk about something that quietly works in your favor every single month. It's one of the smartest reasons to own a home instead of rent.
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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 real money—here's why
One of the best-kept secrets about homeownership is that every monthly payment you make builds equity—that's the difference between what your home is worth and what you still owe on it. Over time, that equity grows, and it can become a powerful financial tool. Some homeowners use it to refinance at better terms, cover major expenses, or invest in home improvements that add even more value. The sooner you understand how much equity you have, the sooner you can think strategically about what to do with it. If you're curious where you stand, I'm happy to take a quick look at your situation and walk you through your options. Reach out anytime—I'd like to help you see what your equity could do for you.
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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
LokelList
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