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Mortgage Market Update
My Mortgage Company
Bryan Canar
Thursday, August 27, 2026
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How much equity are you sitting on? |
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Hi everyone. This week I want to talk about something that happens quietly in the background of homeownership — and it's genuinely powerful.
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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
One of the best-kept secrets about homeownership is that your monthly mortgage payment is forced savings. Every dollar you pay toward principal builds equity in your home — money that stays with you, not a landlord's pocket. Over time, that equity grows. It can become a resource if you need it: a cushion for emergencies, a way to fund a renovation, or leverage for refinancing when the time is right. The longer you own, the faster equity builds, especially once you've built initial principal. If you're curious about how much equity you've accumulated or what options that might open up, I'd like to walk you through it. Let's take a look at your equity picture and what it could mean for your financial future.
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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
Bryan Canar
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