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Mortgage Market Update
My Mortgage Company
Scott Rinehart
Thursday, August 27, 2026
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What your mortgage payments are really doing |
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Hi there,
This week I want to remind you about something powerful that happens quietly every single month.
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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
One of the best parts of homeownership that often goes unnoticed: every mortgage payment builds equity in your home. While part of each payment covers interest, the principal portion goes straight toward ownership. Over time, that adds up significantly. If you've been in your home for a few years, you likely have more equity than you realize—and that equity can open doors down the road, whether you want to refinance, upgrade, or tap into it for a major expense. I'd encourage you to think of your mortgage not just as a payment, but as a forced savings plan. The longer you stay, the more your home works for you. Want to know roughly how much equity you've built? Reach out and we can take a quick look.
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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
Scott Rinehart
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