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Mortgage Market Update
My Mortgage Company
Amy Libonate
Thursday, August 27, 2026
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How your mortgage works for you, not against you |
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It's easy to focus on your monthly payment and forget what's really happening behind the scenes. This week, I want to remind you why staying in your home—and staying consistent with your payments—is a powerful wealth-building move.
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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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Building Equity
Your mortgage is an investment in your future
Every payment you make builds equity—the difference between what your home is worth and what you owe. This matters because equity is real wealth you can tap into later through refinancing, a home equity loan, or simply by selling. Early on, most of your payment goes toward interest, but as time passes, more goes straight to principal and your equity grows. The longer you stay in your home, the faster this compounds. Understanding this can help you think beyond today's payment and see your mortgage as the long-term asset it is. Let me show you how your specific loan builds equity over time—reach out whenever you'd like to talk through it.
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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
Amy Libonate
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