Mortgage Market Update

My Mortgage Company

Samuel Karengi

Thursday, August 27, 2026

How much equity are you sitting on?

Hi there, and thanks for staying in touch. This week I want to remind you about something powerful that's probably happening in the background of your homeownership.

National Mortgage Rates · August 20, 2026

30-Year Fixed

6.65%

FHA 30-Year

6.53%

VA 30-Year

6.32%

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.

Equity Building

Your home is working for you every month

One of the best-kept secrets about homeownership is that you're building wealth whether you think about it or not. Every mortgage payment you make adds to your equity—the difference between what your home is worth and what you owe. Over time, this becomes real money you can tap into if you need it, whether that's for home improvements, education, or other goals. The longer you stay in your home, the faster equity tends to grow, especially if your home appreciates. Understanding this can help you make smarter decisions about refinancing, home equity loans, or just feeling confident about your financial future.

If you'd like to talk through your equity situation or explore what options might be available to you, I'd be happy to walk through it.

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.

Tips for Homeowners

Understanding Mortgage Points

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Samuel Karengi

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