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Mortgage Market Update
Caleb May
Caleb May
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hey everyone—it's easy to lose track of how much your home is working for you while you're busy living in it. This week I want to talk about something that matters more than you might think.
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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 Awareness
Do you know how much equity you've built?
If you've owned your home for a few years, you've likely built more equity than you realize. Every mortgage payment chips away at what you owe, and home values in many markets have moved meaningfully since you bought. That equity can open doors—whether you're thinking about a renovation, consolidating debt, or accessing cash for a major expense. The tricky part is figuring out what you actually have available. Your home's current market value and your loan balance tell the story, but they can shift. It's worth taking a fresh look, especially if your situation has changed since you closed. I'd be happy to help you get a clear picture of where you stand. Reach out whenever you're ready, and we can talk through your equity and what it might mean 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 Caleb May team any time and we'll walk you through your options. |
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