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Mortgage Market Update
My Mortgage Company
Jessica DeMott
Thursday, August 27, 2026
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How much equity do you have in your home? |
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Building wealth through homeownership happens quietly. Most of the time, you won't notice it—until you do.
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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 is working for you
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe. Over time, this grows into real financial power. Some borrowers don't realize how much equity they've accumulated, which means they're missing opportunities to tap into it if they need to. Whether you're thinking about a major home project, consolidating debt, or just curious where you stand, it's worth taking stock. I can help you understand exactly what equity you have and what your options might be. There's no obligation—just a clear picture of your position. Let's talk about your equity and what it could mean for your financial goals.
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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
Jessica DeMott
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