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Mortgage Market Update
Erez Shimoni
Erez Shimoni
Saturday, August 1, 2026
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Rates hold steady, but affordability pressure persists |
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Mortgage rates are stabilizing after hitting their highest point in a year, but that hasn't eased the squeeze on home affordability. Here's what's moving the market this week and what it means for your next move.
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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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Home Equity
Do you know how much equity you've built?
If you've owned your home for a few years and made regular payments, you likely have more equity than you realize. Equity is the difference between what your home is worth and what you still owe on the mortgage—and it can work for you in surprising ways. Whether you're thinking about refinancing, making a major home improvement, or just curious about your financial position, knowing your equity number is the first step. It can also open doors to options you didn't know existed. I'd love to help you figure out where you stand and what that means 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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Redfin
Mortgage rates recently climbed to their highest point in the past year, and that spike is noticeably cooling homebuying demand. With borrowing costs elevated, fewer buyers are jumping into the market right now.
| Key takeaway: if you've been on the fence about buying, this is a sign to lock in a rate quote soon rather than wait for rates to drop further. |
Read full article →
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The Close
U.S. homeowners are sitting on $17.9 trillion in total equity—a record amount. However, the share of "equity-rich" properties is actually falling because higher mortgage payments are making it too expensive for owners to trade up or relocate.
| Key takeaway: you may have more equity than you realize, but today's higher rates mean moving to take advantage of it will cost significantly more in monthly payments. |
Read full article →
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Mortgage News Daily
New single-family home sales ticked up 1.6% in June after declining in May, though they're still running below last year's pace. High rates and affordability strain continue to limit how many buyers can enter the market.
| Key takeaway: modest sales improvements signal some stability, but elevated rates are keeping overall demand depressed compared to historical averages. |
Read full article →
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Mortgage News Daily
Housing construction bounced back in June with a 19% jump in housing starts, recovering from May's unusual dip. However, builders are issuing fewer new permits, suggesting caution about future projects.
| Key takeaway: more construction could eventually help ease the housing shortage, but builders' cautious outlook hints at uncertainty about mortgage rate trends ahead. |
Read full article →
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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 Erez Shimoni team any time and we'll walk you through your options. |
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908-705-5882 | www.applywitherez.com
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