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Mortgage Market Update
My Mortgage Company
Megan Cox
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there—this week I want to remind you of something your mortgage is doing for you in the background. Your home isn't just a place to live; it's an asset that's building wealth.
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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 quietly making you money
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 your home has appreciated or you've paid down your loan significantly, you may have enough equity to refinance into better terms, pull cash out for home improvements or life expenses, or explore a home equity line of credit. The best part is you don't have to do anything special—it happens automatically as you pay your loan and your property gains value. If you're curious whether your equity could work for you, I'd love to walk through your options. Reach out and let's talk about what your equity might mean for your financial goals.
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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
Megan Cox
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