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Mortgage Market Update
CHRIS MILLER
Chris Miller
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hello everyone, I hope you're having a good week. Today I want to talk about something that builds quietly in the background while you're paying your mortgage—and it might surprise you.
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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
You might have more equity than you think
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe on it. If your home's value has risen since you bought it (which happens in most markets over time), that's equity too. Many homeowners don't realize how much they've built up, especially if they've been in their home for several years. Why does this matter? Equity opens doors. It can help you refinance into better terms, tap funds for home improvements or major expenses, or build wealth over time. If you're curious where you stand, I'd love to pull together a quick equity estimate for you—no obligation, just a clear picture of what you've built. Reach out this week and let me show you what your equity looks like.
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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 CHRIS MILLER team any time and we'll walk you through your options. |
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