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Mortgage Market Update
My Mortgage Company
Derek Gonnerman
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there—this week I want to talk about something that quietly works in your favor 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 Basics
Your home's equity is building—here's why it matters
Every mortgage payment you make builds equity in your home. As you pay down principal and your property potentially appreciates, you're building real wealth. That equity can become useful later—whether you want to refinance into better terms, tap it for a major expense, or simply know your financial position. The longer you own your home, the more this matters. If you've been in your house for a few years, you likely have more equity than you realize. Understanding what you've built gives you options and peace of mind. I'm happy to pull your numbers and show you exactly where you stand. Reach out if you'd like a quick equity check on your home.
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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
Derek Gonnerman
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