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Mortgage Market Update
My Mortgage Company
Keith Collins — Keith Collins
Saturday, August 1, 2026
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How much equity have you built? |
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Every mortgage payment you make builds equity in your home. This week, I want to help you understand what that actually means for you.
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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 Awareness
Do you know how much equity you've built?
If you've been paying your mortgage for a few years, you likely have more equity than you realize. Equity is the difference between what your home is worth and what you still owe—and it's one of the most powerful financial tools you own. Whether you're thinking about refinancing, making a large purchase, or just curious about your financial position, knowing your equity is the first step. Your equity can be tapped through a refinance or a home equity line of credit, and it grows every month you make a payment. It's worth sitting down and getting the real picture—not guessing. I'm happy to help you understand what you have built and explore options that might make sense for your situation. Reach out anytime if you'd like to discuss your home's current value and equity position.
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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
Keith Collins — Keith Collins
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