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Mortgage Market Update
My Mortgage Company
Joe Spears
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 talk about something that happens quietly in the background of homeownership—but it's one of the most powerful 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. The sooner you start, the more you accumulate, especially if rates allow you to build equity faster than inflation erodes its value. If you've been a homeowner for a few years, you might be surprised how much equity you've already gained. Knowing your equity position matters because it opens doors: refinancing options, home equity loans for repairs or investments, or simply peace of mind knowing you're building something tangible. I'd love to show you where you stand and what your equity could mean for your next move. Let's take a look at your equity and talk about what it means for your financial future.
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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
Joe Spears
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