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Mortgage Market Update
Jasmine Wright
Mortgages the Wright Way
Saturday, August 1, 2026
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How much equity are you sitting on? |
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Hi there—this week I'm focusing on something that builds quietly in the background of homeownership: equity. It's one of the best parts of owning, and it's worth understanding.
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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 Building
You're building equity faster than you think
Every mortgage payment you make does two things: it pays interest to your lender, and it pays down your loan balance. That balance reduction is equity—your stake in the home. Early on, most of your payment goes to interest, which can feel discouraging. But as time passes, more of each payment builds equity. If you've owned your home for even a few years, you likely have more equity than you realize. This matters because equity is real wealth. It can be borrowed against for renovations or emergencies, or tapped if you ever need to sell. If you're curious where you stand, I'd be happy to walk through your situation and show you exactly how much equity you've built. Reach out if you'd like to talk through your equity position or explore what it could mean for your next move.
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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 Jasmine Wright team any time and we'll walk you through your options. |
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