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Mortgage Market Update
My Mortgage Company
Kimberly Kemppainen
Thursday, August 27, 2026
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How much equity have you built? |
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Home ownership isn't just about having a place to live—it's an investment that pays dividends month after month. Here's what you should know about building wealth through your mortgage.
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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 working for you every month
When you make a mortgage payment, something important happens that renting doesn't offer: you're building equity. Part of each payment goes toward interest, sure, but the rest chips away at your principal balance. Over time, that adds up to real ownership stake in your home. The longer you stay in your home, the faster equity grows—and the more financial flexibility you create for yourself down the road. Whether you're thinking about tapping that equity for a renovation, consolidating debt, or just want to know where you stand, it's worth taking stock of what you've built. I'd love to walk through your situation and show you exactly what your equity position looks like today. Give me a call or send a note—let's talk about your equity and what it means for your future.
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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
Kimberly Kemppainen
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