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Mortgage Market Update
My Mortgage Company
Shakelia LeBlanc
Thursday, August 27, 2026
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How much equity do you actually have? |
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This week we're looking at something that often goes unnoticed: the equity you're building with every payment. It's worth understanding, because it might open doors you didn't know were there.
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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 does two things: it covers interest and builds equity in your home. Over time, that equity becomes real wealth you can tap into—whether you need cash for improvements, education, or unexpected expenses. The longer you stay in your home, the more equity you accumulate. It's one of the most powerful wealth-building tools available to everyday homeowners, and it happens automatically as you pay down your loan. If you're curious about how much equity you may have built up, or whether a cash-out refinance might make sense for your situation, I'd love to walk you through your options. 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
Shakelia LeBlanc
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