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Mortgage Market Update
Derrick Bridgett
Derrick Bridgett
Saturday, August 1, 2026
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You might have more equity than you think |
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Here's your weekly mortgage update. This week, we're talking about something that quietly grows in the background: your home equity and what you can actually do with it.
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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
You might have more equity than you think
If you bought your home a few years ago or have been paying down your mortgage steadily, there's a good chance your home has built equity—both through your monthly payments and any appreciation in your neighborhood. That equity can open doors: it may qualify you for a cash-out refinance, a home equity line of credit, or help you avoid PMI if you're considering a refinance. The tricky part is that many homeowners don't actually know their current home value or how much equity they've accumulated. A quick home valuation is usually free, and knowing your number puts you in control of your options. If you'd like to explore what your equity could mean for your financial goals, I'm here to walk you through it. Reach out anytime—I can help you figure out what your equity is really worth.
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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 Derrick Bridgett team any time and we'll walk you through your options. |
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