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Mortgage Market Update
My Mortgage Company
Roxanne Lee
Thursday, August 27, 2026
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How much equity are you sitting on? |
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Hello, and welcome to this week's lending note. I'm sharing something that often gets overlooked but matters quite a bit to your financial health.
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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 mortgage is working for you every month
Every payment you make builds equity—that's the difference between what your home is worth and what you owe. Over time, this compounds, giving you real financial flexibility. Some of you may be surprised how much equity you've already accumulated, especially if you've been paying your mortgage for several years or if your home has appreciated. That equity can be tapped for home improvements, education, emergencies, or other goals. If you're curious where you stand, I'd love to run a quick analysis. Knowing your equity position is the first step to making smart decisions about your next financial move. Reach out if you'd like to talk through your equity options—no pressure, just honest guidance.
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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
Roxanne Lee
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