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Mortgage Market Update
My Mortgage Company
Angela Walters
Thursday, August 27, 2026
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How much equity have you built? |
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This week I want to help you understand something about your home that's easy to overlook but really matters. Your equity is working quietly in the background—let me explain what it means and why it's worth paying attention to.
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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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Home Equity Basics
Your home's equity is real money—here's why it matters
Every mortgage payment you make builds equity in your home. That's the difference between what your house is worth and what you still owe on it. Over time, as you pay down your loan and your home appreciates, that equity grows into something substantial—and it can work for you in several ways. Whether you're thinking about a major home improvement, facing unexpected expenses, or planning for the future, understanding your equity helps you make smarter financial decisions. If you're curious about how much equity you've built or what options might be available to you, I'd be happy to walk through the numbers and talk through what makes sense for your situation. Let's talk about your equity and what it could mean for you.
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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
Angela Walters
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