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Mortgage Market Update
My Mortgage Company
Brad Payne
Thursday, August 27, 2026
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How much equity do you have right now? |
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We talk a lot about rates and payments, but there's another side of homeownership that matters just as much: building equity. This week, I want to remind you why it matters.
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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 builds equity—that's the difference between what your home is worth and what you owe on it. Over time, this grows into real financial flexibility. Some of you may have built significant equity already, which opens doors: you could refinance into better terms, tap that equity for home improvements or other needs, or simply feel more secure knowing you're building wealth with every payment. The sooner you understand what you have, the sooner you can make it work for you. If you're curious about your equity position or what options it might unlock, I'd love to walk through it with you. Reach out if you'd like to talk through your equity and what you might do with it.
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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
Brad Payne
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