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Mortgage Market Update
My Mortgage Company
Stephanie Washington — Stephanie Washington
Saturday, August 1, 2026
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How much equity have you built? |
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Hi there. This week I'm thinking about one of the most underrated assets homeowners have: equity. Most people know it's growing, but many have never actually looked at the number.
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National Mortgage Rates · July 30, 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
How much equity are you sitting on?
If you bought your home a few years ago, you've likely built more equity than you realize. Every mortgage payment chips away at what you owe, and many homeowners have also seen their home values appreciate. That equity can become a powerful tool—whether you're thinking about refinancing, making improvements, or handling an unexpected expense. The sooner you understand what you have available, the sooner you can make smarter decisions about how to use it. I'd encourage you to take a moment and run the numbers or reach out. It's one of those conversations that often opens up options people didn't know existed. Let's talk about your equity—I can help you see what you're working with.
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Tip of the Week
Landscaping maintenance protects your home's value — overgrown yards are the number one curb appeal issue buyers notice.
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Tips for Homeowners
HOA Fees and How They Affect Your Mortgage
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1.
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HOA dues are included in your debt-to-income ratio calculation when you apply for a mortgage. High HOA fees reduce how much home you can qualify for.
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2.
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Before buying in an HOA, review the financials: reserve fund balance, any pending special assessments, and recent meeting minutes. A depleted reserve fund can mean a large unexpected charge.
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3.
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HOA dues are generally not tax-deductible for a primary residence. If the home is a rental property, dues may be deductible as a business expense.
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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
Stephanie Washington — Stephanie Washington
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