Matthew Ridley · August 1, 2026

How much equity are you sitting on?

Mortgage Market Update

Matthew Ridley

Matthew Ridley

Saturday, August 1, 2026

How much equity are you sitting on?

Hi there. This week I want to highlight something that often flies under the radar: the equity you've probably already built.

National Mortgage Rates · July 30, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.43%

VA 30-Year

6.25%

Rate trend

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.


Equity Check

You might have more home equity than you think

If you've owned your home for a few years, you're probably building equity faster than you realize. Every mortgage payment chips away at what you owe, and in most markets, your home's value has likely gone up too. That combination means real wealth sitting in your house.

Why does this matter? Equity opens doors. You might qualify for a cash-out refinance to fund renovations, pay off higher-interest debt, or cover a big expense. Or if life changes—a job move, a growing family—you're in a stronger position to sell or refinance. I'd encourage you to take a simple step: get a rough idea of what your home is worth today and how much you still owe. Then reach out. We can walk through what options might make sense for you.

Let's talk about your equity and what you can do with it.

Tip of the Week

Landscaping maintenance protects your home's value — overgrown yards are the number one curb appeal issue buyers notice.

Tips for Homeowners

HOA Fees and How They Affect Your Mortgage

1.

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.

2.

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.

3.

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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Matthew Ridley team any time and we'll walk you through your options.

Your Mortgage Advisor

M

Matthew Ridley

Matthew Ridley

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