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Mortgage Market Update
My Mortgage Company
Jay White
Thursday, August 27, 2026
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You're building equity right now |
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Hi there—this week I want to talk about something that happens quietly in the background of homeownership: building 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 mortgage is building wealth every month
One of the best-kept secrets of homeownership is that your monthly payment is doing double duty. Part of it goes to interest, sure—but the rest chips away at your principal, which means you're building equity in your home automatically. Over time, that equity becomes real wealth you can tap into for major expenses, education, or life changes. The longer you stay in your home, the faster this compounds. If you've owned for a few years or are thinking about your long-term financial picture, it's worth understanding how much equity you may have built and what options that opens up. I'd love to walk you through your specific situation. Reach out and we can review your equity and what it might mean for your financial goals.
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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
Jay White
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