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Mortgage Market Update
Omar Navarro
Omar Navarro
Saturday, August 1, 2026
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How much equity have you built? |
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Hi there—I'm sharing insights that matter to homeowners like you, whether you're thinking about your next move or just staying informed. This week, let's talk about equity.
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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
Your home might be worth more than you think
If you bought a few years ago or have been paying down your mortgage steadily, you've likely built equity—that's the difference between what your home is worth today and what you still owe on it. Equity is real wealth, and it opens doors: you can borrow against it for renovations, debt consolidation, or other needs. The tricky part is knowing how much you actually have, since home values shift with your market. I'd encourage you to get a rough sense of your home's current value, then subtract your loan balance. If you're curious about tapping that equity or just want to understand your position better, I'm here to walk through your options with you. Reach out and we can talk through what your equity means for your financial picture.
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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 Omar Navarro team any time and we'll walk you through your options. |
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