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Mortgage Market Update
Ken Graczak
Ken Graczak
Saturday, August 1, 2026
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How much equity have you built? |
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A Note From Ken Graczak
Rates move. Sometimes in your favor, sometimes not. Either way, I'm watching them so you don't have to. If you've got a question about whether now's the time to buy, refinance, or just check your equity, reach out. I'll run the numbers and give you a straight answer.
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Hi there. This week I want to talk about something a lot of homeowners overlook—the equity sitting in their home right now.
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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 may be worth more than you think
If you bought your home a few years ago, there's a good chance you've built up equity—sometimes more than you realize. Home values have moved around quite a bit depending on where you live, but many homeowners are sitting on real wealth they haven't tapped into yet. Knowing your equity matters for a few reasons. It can open doors to a cash-out refinance if you need funds for home improvements, debt payoff, or other goals. It also gives you a clearer picture of your net worth and how much flexibility you actually have as a homeowner. The best part? Finding out what your equity position is doesn't cost anything and only takes a conversation. If you haven't thought about it in a while, I'd love to help you get a real number.
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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 Ken Graczak team any time and we'll walk you through your options. |
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8120 Penn Ave S. Suite 100C, Bloomington, MN 55431
612-324-8454 | https://kengraczak.com
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