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Mortgage Market Update
My Mortgage Company
Liz Rich — Elizabeth Rich
Saturday, August 1, 2026
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How much equity have you built? |
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Every week brings questions about rates, programs, and what's possible for your next move. Here's what I'm thinking about this week.
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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 equity are you sitting on right now?
Most homeowners don't realize how much equity they've built over time—especially if you've been in your home for a few years. 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 home equity line of credit, consider a cash-out refinance if rates make sense, or simply understand your net worth better. The tricky part is figuring out the real number without guessing. I can pull together what we know about your loan and current market value to give you a clear picture. It's a quick conversation that often surprises people—in a good way. If you'd like to know your equity position, reach out and I'll walk you through it.
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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
Liz Rich — Elizabeth Rich
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