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Mortgage Market Update
My Mortgage Company
Charles Skinner — Charles Skinner
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hello! This week I'm thinking about one number that many homeowners overlook—and it could be working in your favor.
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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 Check
How much home equity are you sitting on?
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. Knowing your number matters because it opens doors—you might qualify for a cash-out refinance to fund renovations, consolidate debt, or invest elsewhere. Even if refinancing isn't on your radar now, understanding your equity position is smart financial awareness. I'd be happy to give you a quick estimate of where you stand, no obligation. It's one conversation that often surprises people in the best way. Reach out and let's talk about what your equity could do for you.
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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
Charles Skinner — Charles Skinner
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