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Mortgage Market Update
My Mortgage Company
Jacob Smith
Thursday, August 27, 2026
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Do you know how much equity you've built? |
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Hi there. This week I want to talk about something that's quietly working in your favor every month.
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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—the difference between what your home is worth and what you owe. Over time, this becomes real financial cushion you can tap into if life happens. Some homeowners don't realize how much equity they've built until they need it for a major expense, a home improvement, or a refinance. If you've owned your home for a few years, now might be a good time to take stock of where you stand. Knowing your equity position helps you make smarter decisions down the road, whether that's understanding your borrowing power or deciding when the timing is right for your next move. If you'd like to know roughly where your equity stands, let's talk.
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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
Jacob Smith
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