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Mortgage Market Update
My Mortgage Company
Andy Zamora
Thursday, August 27, 2026
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How much equity have you built? |
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Most homeowners don't realize how much of their home they actually own outright. This week, I want to remind you of something powerful that's happening with every mortgage payment you make.
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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 mortgage is working for you every month
Every payment you make builds equity in your home—that's the difference between what your house is worth and what you still owe. Over time, this becomes real wealth you can tap into if you need it, whether for home repairs, education, or other major expenses. The longer you stay in your home and the more you pay down your loan, the stronger your equity position becomes. If you've been in your home for a few years, you might be surprised at how much you've built. I'd be happy to give you a quick picture of where you stand and talk through your options if you're thinking about accessing that equity. Let's review your equity position—reach out and we can discuss what makes sense for your situation.
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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
Andy Zamora
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