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Mortgage Market Update
My Mortgage Company
Carlos Rivera
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 talk about something that happens every single month without you having to do anything—your home building wealth for you.
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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 portion of your home's value you actually own. Early on, most of your payment goes toward interest, but over time, more and more goes toward principal. This equity can become a resource down the road if you need it for home improvements, education, or other goals. Some borrowers don't realize how much equity they've built until they refinance or sell. It's one of the quieter benefits of homeownership: your home is quietly becoming more yours. If you'd like to know how much equity you have, or talk about ways to put it to work, I'm here to help. Let me pull a quick report on your home's equity—reach out anytime.
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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
Carlos Rivera
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