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Mortgage Market Update
My Mortgage Company
Gary Wright — Gary Wright
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hi there—this week we're talking about equity, one of the most powerful tools homeownership gives you. Here's what you should know.
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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 Primer
Your home is building wealth—here's how
Every mortgage payment you make builds equity in your home. That's the difference between what your home is worth and what you still owe on it. Over time, as you pay down principal and your home appreciates, that equity grows—and it's real money you own. Equity matters because it opens doors. You can tap it for major expenses through a home equity line or loan, use it to refinance into better terms, or simply rest easier knowing you're building something tangible. The longer you stay in your home and keep making payments, the bigger that cushion becomes. If you've been in your home for a few years, you might have more equity than you realize. It's worth checking in on periodically. Let me run a quick equity check for you—it's free and takes five minutes.
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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
Gary Wright — Gary Wright
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