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Mortgage Market Update
Ginny Foster
Ginny Foster
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hi everyone—it's a good week to look under the hood and see where you stand with your home. Whether you're thinking about big plans or just curious, I have some insights to share.
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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 bought a few years ago or have been paying down your mortgage, you've likely built more equity than you realize. That equity is real wealth—and it opens doors. You might qualify for a cash-out refinance to fund a renovation, pay down debt, or cover a major expense. You could also explore a home equity line of credit or loan if refinancing doesn't make sense for your situation. The first step is knowing what you have. I'd be happy to run a quick estimate based on your current home value and what you owe. It takes just a few minutes and can reveal options you didn't know existed. Reach out this week and let's talk about your equity and what it could mean for your financial 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 Ginny Foster team any time and we'll walk you through your options. |
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