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Mortgage Market Update
My Mortgage Company
Kristen Hordyk
Thursday, August 27, 2026
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How your mortgage builds wealth |
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Hi there,
This week I want to remind you of something powerful about homeownership that doesn't always get the attention it deserves.
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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 owe. It's one of the biggest wealth-building tools available to everyday people, and it happens whether you think about it or not. The sooner you start, the more you benefit from it over time. If you've been thinking about buying, or if you already own and want to understand your equity better, I'd love to walk you through how this works for your situation and what it might mean down the road. Let's talk about your equity position and what it means 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
Kristen Hordyk
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