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Mortgage Market Update
Nick Peterson
Saturday, August 1, 2026
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How much equity have you built? |
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Hi there—I'm sharing ideas each week to help you make smarter money moves with your home. This week, let's talk about the wealth you may have already built.
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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 home equity are you sitting on?
If you've owned your home for a few years, you've likely built up equity—the difference between what your home is worth and what you still owe on your mortgage. That equity can be a powerful financial tool. Some homeowners tap it for major expenses, renovations, or consolidating debt. Others leave it alone and let it grow. Either way, it's worth knowing the number. Home values have shifted in many markets, and your equity picture may have changed more than you realize. I can help you get a clear view of where you stand and explore your options if you want to put that equity to work. There's no obligation—just clarity. Let's have a quick conversation about your equity and what might make sense for your situation.
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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 Nick Peterson team any time and we'll walk you through your options. |
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