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Mortgage Market Update
My Mortgage Company
Gerardo Marin
Thursday, August 27, 2026
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How much equity have you built? |
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Welcome back. This week I want to talk about something that often surprises homeowners once they stop and think about it.
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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
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Over time, this becomes real wealth. But equity matters beyond just net worth. If your home has appreciated or you've paid down your loan, you may have options: refinancing to better terms, tapping that equity for renovations or other needs, or simply knowing you're building something solid. The sooner you understand what you've built, the sooner you can make smart decisions about it. I'd love to review where you stand and talk through what might make sense for your situation. Reach out anytime—I can give you a clear picture of your equity position and what doors it might open.
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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
Gerardo Marin
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