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Mortgage Market Update
My Mortgage Company
Sarah Hubbard
Thursday, August 27, 2026
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What your mortgage is building for you |
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Hi there—this week I want to circle back to something that quietly works in your favor every month: home equity. Here's what you need to know.
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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 growing—here's why it matters
As you make mortgage payments, two things are happening: you're paying down your loan balance, and your home is (ideally) building value over time. That combination creates equity—the difference between what your home is worth and what you owe. Equity isn't just a number on paper. It's a financial cushion you can tap into later through a home equity line of credit, a cash-out refinance, or simply as net worth. Knowing how much equity you have helps you make smarter decisions about your money, whether that's weathering an unexpected expense or funding a home improvement. If you're not sure where you stand or want to explore what your equity could do for you, I'd love to walk through your options. Let's talk about your equity and what it might unlock for your finances.
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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
Sarah Hubbard
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