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Mortgage Market Update
My Mortgage Company
Jody Dupuis
Thursday, August 27, 2026
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How much equity do you have right now? |
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Hi there,
This week I want to remind you of something easy to overlook when you're focused on making your monthly payment: you're building real wealth with every dollar that goes toward principal.
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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—the difference between what your home is worth and what you owe on it. This matters because equity is real wealth you can tap into later through a refinance, a home equity line of credit, or when you sell. The sooner you start paying down principal, the faster that equity grows. If you've been in your home for a few years, you might be surprised how much equity you've already built. Understanding where you stand can open up options you didn't know existed—whether that's making a smarter financial move today or planning for tomorrow. Let's take a look at your equity position and talk through what it means for 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
Jody Dupuis
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