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Mortgage Market Update
My Mortgage Company
Nicholas Smith
Thursday, August 27, 2026
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How much equity are you sitting on? |
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Hi there. This week I want to cover something that quietly works in your favor every single month: the equity you're building in your home.
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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—even when you sleep
Every mortgage payment you make builds equity in your home. That's money that stays with you, not going to a landlord. The sooner you understand how much equity you've accumulated, the more options open up—whether that's refinancing into better terms, borrowing against your home for a major project, or simply knowing your net worth is growing. Many homeowners are surprised to learn they have more equity than they realize, especially if they've been in their home for a few years or made extra payments. Knowing your equity position is a smart first step to making informed decisions about your home's future. If you'd like to talk through your equity and what it could mean for your situation, I'm here to help.
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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
Nicholas Smith
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