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Mortgage Market Update
My Mortgage Company
Edge Home Finance
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there. This week I want to talk about something that happens quietly in the background of homeownership—and it's genuinely good news.
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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—even when you're not
Every mortgage payment you make builds equity in your home. That's money that stays with you, not going to a landlord. Over time, as you pay down your loan and your home's value potentially increases, that equity grows. It's one of the most powerful wealth-building tools available to homeowners. If you've owned your home for a few years, you might be surprised how much equity you've accumulated. That equity can open doors down the road—whether you want to refinance, tap into it for a major expense, or simply know what your net worth looks like. Understanding where you stand is the first step to making smart decisions about your home and your future. I'd be happy to discuss how much equity you may have built and what options that might create for you.
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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
Edge Home Finance
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