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Mortgage Market Update
Jay Richardson
Jay Richardson
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hi there. This week I'm thinking about one of the smartest reasons homeowners reach out to me: they realize their equity is worth exploring.
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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
You might have more equity than you think
If you've owned your home for a few years, you're likely building equity faster than you realize. Every mortgage payment chips away at your loan balance, and if your home has appreciated in value, you've got a double win. That equity can open doors—whether you're thinking about a cash-out refinance for renovations, a home equity line of credit for flexibility, or just wanting to understand your financial position better. The tricky part is knowing what your home is actually worth today and how much of that belongs to you. A quick conversation with me can help you figure out where you stand, what options might make sense, and whether now is the right time to tap into your equity or keep building it. Reach out if you'd like to talk through your equity and what it might mean for your goals.
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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 Jay Richardson team any time and we'll walk you through your options. |
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