Mortgage Market Update

My Mortgage Company

Errol Fenty — Errol Fenty

Saturday, August 1, 2026

How much equity have you built?

Hello from the office. This week I want to talk about something that often surprises people—the equity they've quietly built in their home.

National Mortgage Rates · July 30, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.43%

VA 30-Year

6.25%

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.

Equity Building

How much equity are you sitting on right now?

If you've owned your home for a few years, you've likely built more equity than you realize. Every mortgage payment chips away at what you owe, and if your home has appreciated, that's equity too. Understanding what you have can open doors—whether you're thinking about refinancing, getting a home equity line of credit, or just feeling more confident about your financial position.

The tricky part is knowing what your home is actually worth and what you still owe. A lot of homeowners guess, but guessing wrong can lead to missed opportunities. If you'd like a real picture of your equity position, I'm happy to walk you through it. It takes about ten minutes and could change what you're able to do next.

Reach out and we can run the numbers together.

Tip of the Week

Landscaping maintenance protects your home's value — overgrown yards are the number one curb appeal issue buyers notice.

Tips for Homeowners

HOA Fees and How They Affect Your Mortgage

1.	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.

2.	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.

3.	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.

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

Errol Fenty — Errol Fenty

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