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Mortgage Market Update
My Mortgage Company
Justin Hill
Thursday, August 27, 2026
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How much equity are you building right now? |
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Hi there! This week I want to talk about something that's quietly working in your favor every single month—and you might not even be thinking about it.
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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—that's the difference between what your home is worth and what you still owe. Over time, this becomes real wealth. The sooner you start, the more you accumulate, and that equity can become a tool later if you need it for renovations, education, or life changes. Many people don't realize how quickly equity grows, especially in the early years when you're making consistent payments. If you've been in your home for a while, you might have more equity than you think. Understanding what you've built can help you make smarter decisions about your finances and your future. If you're curious about how much equity you might have, I'd be happy to walk through it with 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
Justin Hill
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