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Mortgage Market Update
My Mortgage Company
Enchanted Kingdom
Thursday, August 27, 2026
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How much equity are you sitting on? |
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Hi there. This week I want to focus on something that often flies under the radar — but shouldn't.
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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 equity isn't just a number
As you make mortgage payments each month, you're building equity in your home. That's the difference between what your home is worth and what you still owe. Over time, equity grows and can become a valuable financial tool — whether you want to tap into it for a home project, cover an unexpected expense, or simply strengthen your net worth. The more you pay down your mortgage, the more flexibility you gain. And if your home's value has appreciated, you may have even more equity than you realize. I often see homeowners surprised by how much they've built over just a few years. Understanding your equity position now means you'll know your options if life changes. Let's talk about what your equity means for your financial picture.
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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
Enchanted Kingdom
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