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Mortgage Market Update
Jason Erickson
Jason Erickson
Saturday, August 1, 2026
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What's your home's equity worth right now? |
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Hi there. This week I want to help you understand the wealth you may already have built through homeownership.
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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
Your home's equity might be worth more than you think
If you bought a few years ago or your home has appreciated in your market, you've likely built equity—the difference between what your home is worth and what you owe on your mortgage. That equity can be a powerful financial tool. Some borrowers tap into it through a refinance or a home equity line of credit to fund renovations, consolidate debt, or cover a major expense. Others just let it grow as they pay down their loan. Either way, it's worth knowing where you stand. A quick conversation can help you understand what options might make sense for your situation—no obligation, just clarity. I'd be happy to give you a no-pressure estimate of your home's current equity and talk through what you might do with it.
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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 Jason Erickson team any time and we'll walk you through your options. |
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