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Mortgage Market Update
My Mortgage Company
Brian Sammon
Wednesday, September 2, 2026
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How much equity have you built? |
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Hi there—one of the best parts of homeownership often goes unnoticed. I'd like to highlight something that's working in your favor right now.
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National Mortgage Rates · August 27, 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
Every payment you make builds equity in your home—that's money that stays with you. Whether you're early in your loan or years in, a portion of each payment goes straight toward ownership. Understanding how much equity you've built can open doors: it's the foundation for refinancing, home improvements, or even accessing funds when you need them. If you haven't checked your equity position lately, now's a good time. Market changes and your own payments might have moved that number more than you realize, and it could affect your options down the road. Let's talk about what your equity means for your next move.
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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
Brian Sammon
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