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Mortgage Market Update
My Mortgage Company
Mountain Goat Mortgage
Thursday, August 27, 2026
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How much home equity have you built? |
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One of the best-kept secrets about homeownership is how quietly your equity grows. Here's why that matters to you right now.
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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 quietly working for you
Every mortgage payment you make builds equity—that's the portion of your home you actually own. Over time, as you pay down your loan balance and your home holds or gains value, that equity grows. It's one of the most underrated benefits of homeownership. Some borrowers don't realize they can tap into this equity later through a refinance or home equity line of credit if life throws an unexpected expense their way. The longer you've been paying your mortgage, the more equity you've likely accumulated. It's worth knowing where you stand, especially if you're thinking about major expenses down the road. I'd be happy to walk you through what you might have built up so far. Let's talk about your equity position and what it means for your financial flexibility.
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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
Mountain Goat Mortgage
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