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Mortgage Market Update
My Mortgage Company
Shantian Simmons's Account
Tuesday, October 20, 2026
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Building wealth every month |
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Hi there. I've been thinking about home equity this week—what it is, why it matters, and how many homeowners don't realize how much they've already built.
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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's value is working for you
One of the best parts of owning a home is that every mortgage payment builds your net worth. As your loan balance drops and (in many cases) your home's value grows, you accumulate equity—the difference between what your home is worth and what you still owe. That equity can be a financial tool later: some homeowners tap it for major expenses, home improvements, or consolidating other debt. Right now is a good time to get curious about your own numbers. If you'd like to know roughly where you stand with equity, I can pull together a quick snapshot for you. It's one of those things worth understanding, even if you're not planning to use it anytime soon. Let me know if you'd like to review your equity and talk through your options.
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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
Shantian Simmons's Account
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