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Mortgage Market Update
Jesse Yarpezeshkan
Jesse Yarpezeshkan
Thursday, August 27, 2026
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How much equity do you have now? |
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As we head into the new week, I'm thinking about one of the most powerful wealth-building tools you already own: your home. Here's what you should know.
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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 does two things: it covers interest and reduces what you owe. That second part—the principal you're paying down—is equity you're building in your home. Over time, this adds up. Many homeowners don't realize how much equity they've accumulated until they need it, whether for a major repair, a child's education, or another goal. If you've been in your home for a few years, there's a good chance you have more equity than you think. Understanding what you've built can help you make smarter decisions about whether to tap into it, refinance, or simply hold on to it. Curious where you stand? I'd love to give you a quick picture of your situation. Let's talk about how much equity you've built and what options that opens up 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 Jesse Yarpezeshkan team any time and we'll walk you through your options. |
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