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Mortgage Market Update
My Mortgage Company
Matt Vern
Thursday, August 27, 2026
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How much equity do you have now? |
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Hi there—I'm sharing what's on my mind this week about building wealth through homeownership. This one's about understanding the real asset you're creating.
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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 probably worth more than your loan
Every month you make a mortgage payment, two things happen: you pay down what you owe, and your home builds equity. That equity is real money—it's the difference between what your home is worth and what you still owe on it. Over time, as you pay principal and your home's value may appreciate, that gap grows. Some of you have built substantial equity already and may not realize it. Knowing your equity position matters because it opens doors—refinancing options, home equity lines, or simply understanding your net worth. If you've been in your home for a few years, it's worth getting a current picture. I'd be happy to walk you through where you stand. Let's talk about how much equity you've built so far.
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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
Matt Vern
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