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Mortgage Market Update
My Mortgage Company
Ryan Skerritt
Thursday, August 27, 2026
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How much equity do you actually have? |
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Welcome back. This week, I'm talking about something that grows quietly in the background while you're busy paying your mortgage each month.
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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 working for you
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 you can tap into. Whether you're planning a major renovation, covering an unexpected expense, or thinking about your financial future, knowing how much equity you have is worth understanding. Some borrowers are surprised to learn how much they've built up, especially if they've been in their home for several years or if their property has appreciated. I can help you figure out where you stand and explore your options if you ever need to access that equity. Curious how much equity you have? Let's take a look at 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
Ryan Skerritt
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