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Mortgage Market Update
My Mortgage Company
Goose Ritter Team
Thursday, August 27, 2026
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How much equity have you built? |
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Every payment matters. Let me share what your equity means for your financial future.
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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 still owe. This matters more than most people realize. As you pay down principal, you're building a financial cushion that can help you refinance later, borrow against for a major expense, or tap into when you're ready to move. The sooner you start, the more equity you accumulate over time. If you're unsure how much equity you have now or what options that gives you, I'd love to walk through your situation. There's real value in understanding where you stand. Let's talk about your equity and what doors it might open for you.
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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
Goose Ritter Team
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