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Mortgage Market Update
My Mortgage Company
Kevin Flannery
Thursday, August 27, 2026
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How much equity are you building right now? |
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Hi there. This week I want to share something that often goes overlooked—and it's one of the best parts of owning a home.
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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 difference between what your home is worth and what you still owe. Over time, this becomes real wealth you can tap into if you need it. The sooner you start, the more equity you'll have accumulated by the time you want to refinance, sell, or handle a major life expense. If you're renting or thinking about buying, this is one of the most powerful reasons homeownership makes sense. Even a modest down payment gets the process rolling. I'd love to walk you through how much equity you could build with the right loan structure for your situation. Let's talk about a plan that helps you build equity faster.
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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
Kevin Flannery
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