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Mortgage Market Update
My Mortgage Company
Innovative Home Loans
Thursday, August 27, 2026
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Have you checked your home equity lately? |
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As a homeowner, one of your biggest advantages is the ability to build wealth over time. This week, I want to walk you through something that deserves your attention.
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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's equity is working for you
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 grows into real financial power. You can tap into it if you need cash for home repairs, education, or other major expenses, often at better rates than other borrowing options. The longer you own your home and the more you pay down your loan, the stronger your financial position becomes. If you're curious whether you've built enough equity to explore your options, I'd love to have that conversation with you. Let's talk about what your equity 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
Innovative Home Loans
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