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Mortgage Market Update
Joshua Switzer
Joshua Switzer
Saturday, August 1, 2026
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How much equity have you built in your home? |
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Happy to share another thought this week on homeownership and mortgages. Today I want to talk about something that often gets overlooked—and that could genuinely help your financial picture.
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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
How much equity are you sitting on right now?
A lot of homeowners don't realize how much equity they've built over the years—or even recently, if their home's value has moved. Equity is the difference between what your home is worth today and what you still owe on your mortgage. It matters because it opens doors: you can tap into it for a major expense, use it to refinance into better terms, or leverage it if you want to buy another property. The challenge is that many people guess at their home value instead of actually knowing it. If you haven't checked in a while, it's worth a conversation. I can help you get a real sense of where you stand and what options might make sense for your situation. Let's talk through what your equity position looks like and whether there's a smart move waiting 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 Joshua Switzer team any time and we'll walk you through your options. |
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