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Mortgage Market Update
Brandt Myers
Brandt Myers
Saturday, August 1, 2026
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How much equity are you sitting on? |
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Hey there—hope you're having a solid week. I've got something on my mind that affects a lot of homeowners, and I'd like to share it with 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 Awareness
Do you know how much equity you've built?
If you've been paying your mortgage for a few years, you've likely built up equity in your home—the difference between what your house is worth and what you still owe. This matters more than you might think. Equity is real wealth sitting in your walls, and it can unlock options like a cash-out refinance, a home equity line of credit, or help you build a stronger financial cushion. Many homeowners don't realize how much equity they've actually accumulated. A quick conversation with me can help you understand where you stand and what doors that equity might open. Whether you're thinking about improvements, paying off debt, or just want to know your financial position, it's worth checking in. Reach out and let's talk about what your equity means 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 Brandt Myers team any time and we'll walk you through your options. |
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