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Mortgage Market Update
My Mortgage Company
Old- Sheila Garcia
Tuesday, October 20, 2026
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How much of your home do you actually own? |
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One of the smartest money moves you've made is buying a home. But most homeowners don't fully appreciate one of the biggest benefits: building real wealth every month.
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National Mortgage Rates · October 16, 2026
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Conventional 30-Year
7.28%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates 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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Home Equity
Your home builds wealth while you sleep
Every mortgage payment you make does two things: it covers interest and goes toward owning more of your home. That second part—the principal you're paying down—is equity, and it's one of the most powerful wealth-building tools available to everyday homeowners. Over time, as you pay down your loan balance and your home appreciates, that equity grows. The longer you stay in your home, the more it compounds. Many homeowners are surprised to learn they have substantial equity available to tap into if they ever need it, whether for home improvements, education, or other goals. Understanding what you own—not just what you owe—changes how you think about your mortgage. I'd love to help you get a clear picture of your equity position and explore what options might make sense for your situation. Let's talk about how much equity you've built and what it could mean for you.
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Tip of the Week
Your loan officer can run a credit simulator to show exactly which actions will move your score the most.
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Tips for Homeowners
Year-End Tax & Mortgage Planning
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1.
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Consider making your January mortgage payment in December to get an extra month of deductible interest in the current tax year (consult your tax advisor first).
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2.
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If you plan to sell next year, now is a good time to document improvements — receipts and records add to your cost basis and reduce taxable capital gain at sale.
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3.
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Review your W-4 withholding if you bought a home this year — your mortgage interest deduction may mean you're having too much withheld from each paycheck.
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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
Old- Sheila Garcia
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