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Mortgage Market Update
My Mortgage Company
Colin Boyse
Thursday, August 27, 2026
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How much of your home do you actually own? |
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Welcome back. This week we're talking about something that grows quietly in the background—and it might surprise you how much you've built already.
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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—that's the difference between what your home is worth and what you owe. Over time, this becomes real wealth. The sooner you start paying down your loan, the faster that equity grows. If you bought a few years ago, you may have built up more equity than you realize, which can open doors: you could refinance to better terms, tap into that equity for a major expense, or simply feel the security of owning more of your home outright. It's one of the most powerful reasons homeownership matters long-term. If you're curious about how much equity you've built or what options that might unlock, I'd love to walk through it with you. Let's talk about what your equity means for your next move.
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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
Colin Boyse
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