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Mortgage Market Update
My Mortgage Company
Timothy Peterson
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'm touching on something that happens quietly in the background of homeownership but matters a lot over time.
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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 Basics
Your home is building wealth every month
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe on it. Over time, as you pay down the loan balance and your home's value potentially appreciates, that equity grows. It's one of the reasons homeownership matters so much for long-term financial health. The longer you stay in your home, the faster equity compounds. And when you've built enough of it, you have options: you can refinance into a better rate, tap that equity for a major expense, or simply rest easier knowing you're building something real. If you're curious about how much equity you may have right now, or what your options might be with it, I'd love to walk through the numbers with you. Reach out if you'd like to talk about your equity and what it could mean for your financial picture.
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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
Timothy Peterson
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