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Mortgage Market Update
Kevin Burrus
Kevin Burrus
Saturday, August 1, 2026
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Do you know how much equity you've built? |
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Hi there — this week I want to help you answer a question that matters more than you might think. Your home isn't just a place to live; it's also likely your biggest financial asset.
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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
Do you know how much equity you've built?
If you've owned your home for a few years, you've likely built more equity than you realize. Equity is the difference between what your home is worth and what you owe on your mortgage — and it can be a powerful tool. Some homeowners use it to refinance into better loan terms. Others tap it for major expenses like home improvements or education without taking on high-interest debt. The first step is knowing your number. A quick home value check online gives you a ballpark figure, and I can help you understand exactly what that equity means for your options. Whether you're curious or considering a move, it's worth knowing where you stand. Let's do a quick equity and options review — just send me a note and we'll talk through what makes sense 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 Kevin Burrus team any time and we'll walk you through your options. |
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