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Mortgage Market Update
My Mortgage Company
Kiernan O'Brien
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there,
This week I want to remind you of something powerful that's probably happening in the background of your mortgage.
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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—here's how
Every mortgage payment you make builds equity in your home. That's money that stays with you, not a landlord. The longer you own, the more of each payment goes toward ownership rather than interest. Some of you may have built significant equity already, especially if you've owned for several years or if your home's value has climbed. That equity can open doors—whether you need it for a major expense, to refinance into better terms, or to fund a renovation that adds value. The key is knowing what you have. I'd be happy to give you a clear picture of your equity position and talk through your options if you're thinking about tapping into it. Let's talk about what your equity could mean 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
Kiernan O'Brien
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