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Mortgage Market Update
My Mortgage Company
Shawn Curran
Thursday, August 27, 2026
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How much equity are you sitting on? |
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It's easy to think of your mortgage as just a monthly payment, but there's something powerful happening behind the scenes. I wanted to share something that often surprises homeowners when we talk 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 while you sleep
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe on it. Over time, this becomes real wealth you can tap into if you need it. Many homeowners don't realize how much equity they've built up, especially if they've been in their home for several years. Whether you're thinking about a major expense, home improvement, or just want to understand your financial position better, knowing your equity is a smart first step. I'd love to help you get a clear picture of where you stand and talk through your options. Let's pull together your equity and discuss what it could mean 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
Shawn Curran
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