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Saturday, August 1, 2026 |
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A Note From Tim Powers
A quick market update for my past clients and friends
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Mortgage Market Update
How much equity have you actually built?
Hi there—this week I want to talk about something a lot of homeowners overlook. We'll walk through what home equity really means for you and why it matters.
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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
Your home has probably built more equity than you think
A lot of people don't realize how much equity they've actually accumulated over time. Every mortgage payment chips away at what you owe, and in most markets, your home's value has moved in your favor too. That equity is real money—it's yours. Some homeowners tap into it through a refinance or a home equity line of credit to fund renovations, pay down debt, or handle life's bigger expenses. Others leave it sitting there without fully understanding what they're sitting on. If you've owned your home for a few years, it's worth knowing your number. A quick conversation can help you figure out what options might make sense for your situation, and there's no obligation attached.
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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 Tim Powers team any time and we'll walk you through your options.
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16427 N Scottsdale Rd Ste 410, Scottsdale, AZ 85254
+1 253-209-4247
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