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Mortgage Market Update
Myrna Hernandez
Myrna Hernandez Venzor
Saturday, August 1, 2026
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You might have more equity than you think |
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Hi there. As we head into the new week, I wanted to touch on something that affects a lot of homeowners but doesn't always get the attention it deserves.
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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 Building
You might have more equity than you think
Every mortgage payment you make builds equity in your home—that's the portion of your payment that goes toward ownership rather than interest. But here's what catches people off guard: if your home has appreciated since you bought it, you've built equity even faster. Home values don't always move predictably, but over time, many homeowners find they have significant equity available to them. Knowing your equity matters because it can open doors—whether you're thinking about refinancing, making improvements, or planning your next move. If you haven't checked your home's current value or calculated your equity position in a while, it's worth doing. I'd be happy to walk you through what that looks like and what options it might create for you. Let's talk about your equity position and what it 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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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Myrna Hernandez team any time and we'll walk you through your options. |
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