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Mortgage Market Update
My Mortgage Company
Brian Irby
Thursday, August 27, 2026
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How much home equity do you have now? |
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Hi there — this week I want to remind you about something that happens quietly in the background of homeownership: building equity with every mortgage payment.
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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 working for you every month
Every payment you make builds equity — that's the portion of your home's value you actually own. It's easy to overlook because the benefit isn't immediate, but over time, equity becomes real financial strength. You can tap into it for home improvements, education, emergencies, or other goals. The longer you stay in your home and keep making payments, the more equity you accumulate. If you're curious about how much equity you may have built, or wondering whether a cash-out refinance might make sense for your situation, I'd be happy to walk through the numbers with you. Reach out if you'd like to talk about your equity and what options might be available.
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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
Brian Irby
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