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Mortgage Market Update
My Mortgage Company
Michael Vetri
Thursday, August 27, 2026
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How much equity are you building right now? |
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Hi there. This week I want to focus on something that happens quietly in the background of home ownership—but it's one of the most powerful parts of the whole process.
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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 harder than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this becomes real wealth. But equity isn't just something that happens passively. You can accelerate it by paying a little extra toward principal when you're able, or by making smart improvements that hold their value. Understanding your equity position also matters if life changes down the road: you may be able to tap into it for a major expense, or it could open doors to better loan terms if you refinance. The key is knowing where you stand. I'd be happy to walk you through your equity picture and talk about whether any of these strategies make sense for your situation. Let's talk about your equity and what it means for your financial future.
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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
Michael Vetri
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