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Mortgage Market Update
My Mortgage Company
Lucy Thornton
Thursday, August 27, 2026
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You're building wealth with every payment |
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Welcome back. This week I want to remind you of something powerful that happens quietly every single 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 mortgage is working for you every month
Here's something worth celebrating: every payment you make builds equity in your home. That's the difference between what your home is worth and what you still owe. Over time, as you pay down your loan balance, that equity grows—and it becomes an asset you can tap into if life circumstances change. Some people use it to fund home improvements, cover major expenses, or explore refinancing options. The longer you stay in your home and keep making payments, the more equity you build. It's one of the most powerful wealth-building tools available to homeowners. If you're curious about how much equity you may have accumulated, or whether it makes sense to use it strategically, I'd love to walk through your situation. Let's talk about your home's equity and what options might be available to you.
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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
Lucy Thornton
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