Mortgage Market Update

My Mortgage Company

York Superior Mortgage Group

Thursday, August 27, 2026

Do you know how much equity you have?

Hi there. This week I want to highlight something a lot of homeowners overlook—but shouldn't.

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's value is working for you

If you've owned your home for a few years, you likely have equity built up—the difference between what your home is worth and what you still owe. That equity is real money you own, and it can be useful if you need cash for home repairs, debt payoff, or other big expenses. A few options exist: a home equity line of credit (HELOC), a home equity loan, or a cash-out refinance. Each has its own pace and terms. The best choice depends on how much you need, when you need it, and what makes sense for your overall situation. I'm happy to walk you through the trade-offs so you can decide what fits your goals.

If you're curious whether you have equity and what options might be available, let's talk.

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

York Superior Mortgage Group

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