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Mortgage Market Update
My Mortgage Company
Barrett Financial Group
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there. This week I want to remind you of something powerful that's probably happening right now with your mortgage.
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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. It's one of the most powerful wealth-building tools available, and it happens automatically. As you pay down your loan balance, your equity grows. If your home's value rises, that builds equity too. The longer you stay in your home, the more this compounds. Many homeowners are surprised to learn how much equity they've built after just a few years. If you're curious about your current equity position or want to explore how you might tap into it down the road, I'd like to walk you through the details. Let's talk about your home equity and what it 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
Barrett Financial Group
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