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Mortgage Market Update
My Mortgage Company
Luigi De Angelis
Thursday, August 27, 2026
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How much equity do you have now? |
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Hello! This week I want to talk about one of the best-kept secrets in homeownership: how your monthly payments are quietly building your wealth.
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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 every month
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. It's one of the most powerful wealth-building tools available to homeowners, and it happens automatically. The longer you own, the more equity accumulates. Some of you may have built significant equity already, especially if you've been in your home for several years or if your home's value has grown. That equity can be tapped for major expenses, education, or other goals through a home equity line or cash-out refinance when the time is right. Understanding what you've built is the first step to using it wisely. If you'd like to know roughly how much equity you've built, I'm happy to run the numbers 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
Luigi De Angelis
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