Mortgage Market Update

My Mortgage Company

Kenneth Francis

Thursday, August 27, 2026

Do you know how much equity you have?

Hi there. This week I want to talk about something that builds quietly in the background of homeownership but can unlock real opportunities when you need them most.

National Mortgage Rates · August 20, 2026

30-Year Fixed

6.65%

FHA 30-Year

6.53%

VA 30-Year

6.32%

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.

Home Equity

Your home may be worth more than you think

If you've owned your home for a few years, there's a good chance you've built equity—the difference between what your home is worth today and what you still owe on your mortgage. That equity is real money you own, and it can be a powerful financial tool when you need it.

Whether you're facing unexpected expenses, planning a renovation, or thinking about consolidating debt, understanding your equity position is the first step. I can help you figure out how much equity you may have and what options might make sense for your situation. Let's start a conversation about what's possible.

Reach out anytime—I'm here to walk you through your equity and what it could mean for you.

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.

Tips for Homeowners

Understanding Mortgage Points

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Kenneth Francis

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