|
Mortgage Market Update
My Mortgage Company
Nicholas Akel — Nicholas Akel
Saturday, August 1, 2026
|
How much equity have you actually built? |
|
Home ownership builds wealth quietly—one payment at a time. This week, let's talk about equity and why knowing yours matters.
|
|
National Mortgage Rates · July 30, 2026
|
%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%233b5bdb%22%2C%22borderWidth%22%3A2%7D%5D%7D%2C%22options%22%3A%7B%22plugins%22%3A%7B%22legend%22%3A%7B%22display%22%3Afalse%7D%7D%2C%22scales%22%3A%7B%22y%22%3A%7B%22ticks%22%3A%7B%22callback%22%3A%22function(v)%7Breturn%20v%2B%5C%22%25%5C%22%7D%22%2C%22color%22%3A%22%23666%22%7D%2C%22grid%22%3A%7B%22color%22%3A%22rgba(0%2C0%2C0%2C0.06)%22%7D%7D%2C%22x%22%3A%7B%22grid%22%3A%7B%22display%22%3Afalse%7D%2C%22ticks%22%3A%7B%22font%22%3A%7B%22size%22%3A11%7D%2C%22color%22%3A%22%23666%22%7D%7D%7D%7D%7D&w=520&h=180&bkg=white&f=12) |
|
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
Your home is working for you every month
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe on it. Early on, most of your payment goes toward interest, so the equity growth feels slow. But as time passes, more of each payment chips away at your principal balance, and your equity accelerates. If you've owned your home for a few years, you may have built more equity than you realize. That equity can be a financial tool: it could help you tap into funds for a major expense, pay off higher-interest debt, or even refinance into better loan terms. I'd recommend pulling your home's current value estimate and comparing it to your loan balance. Knowing your equity position is the first step to using it strategically. If you'd like help calculating your equity or exploring what options it might unlock, I'm here to walk through it with you.
|
|
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
Nicholas Akel — Nicholas Akel
|
|
|
|
You are receiving this from Nicholas Akel — Nicholas Akel. Unsubscribe
|
|