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Mortgage Market Update
My Mortgage Company
Chad Pennington — Lindsey Pennington
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hi there. Each week I share something I think matters for your home and your finances.
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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 home equity are you sitting on?
If you've owned your home for a few years, you've likely built up more equity than you realize. Every mortgage payment chips away at what you owe, and if your home has appreciated, that's equity too. Knowing your equity matters because it opens doors—you might refinance, tap into a home equity line of credit, or make a stronger move on your next property. I recommend pulling your most recent statement and doing a quick calculation: your home's current value minus what you still owe on your mortgage. The gap between those numbers is real wealth. If you're not sure what your home is worth today or want to explore what your equity could do for you, I'm happy to walk through the numbers with you. Let's figure out exactly where you stand—send me a message and we'll review your equity and options.
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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
Chad Pennington — Lindsey Pennington
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