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Mortgage Market Update
Scott Munds
Promise Home Loans
Saturday, August 1, 2026
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Home prices are moving again—here's what it means |
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A Note From Scott Munds
A Quick Note from Scott
Thanks for staying connected. I appreciate being able to keep you informed and be a resource whenever you need one. My goal is simple: provide helpful information and keep you informed about the market.
Whether you're thinking about buying, refinancing, or simply keeping an eye on the market, I'm always here as a resource. I appreciate your trust, your referrals, and the opportunity to be part of your journey — Scott
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After a long stretch of stagnation, the housing market is showing signs of real movement. We've picked the three stories this week that matter most to your wallet and your next move.
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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
How much equity are you actually sitting on?
If you bought a few years ago or made extra payments, there's a good chance your home is worth more than what you owe. That equity is real money—it's just locked up in your property. Knowing your number matters because it opens doors: you might qualify for a cash-out refinance to pay off debt, fund repairs, or cover other expenses. You could also tap it for a home equity line of credit or loan if you need flexibility. Even if you're not ready to use it, understanding your position helps you make smarter financial decisions down the road. The first step is simple—a quick conversation can give you a clear picture of where you stand.
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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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Keeping Current Matters
After more than a year of doom-and-gloom predictions about crashing prices, recent data suggests home price growth is starting to accelerate again. If you've been waiting on the sidelines or worried about timing, this shift could change how you think about buying or selling in the months ahead.
| Key takeaway: if you've been hesitant because you feared prices would keep falling, the trend may be reversing—it's worth having a conversation with a real estate professional about your timing. |
Read full article →
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Mortgage News Daily
After a dip in May, new home sales recovered modestly in June as builders regained some momentum. Still, sales remain below last year's levels, and affordability pressures from elevated mortgage rates continue to hold back many buyers.
| Key takeaway: while the market is stabilizing, rates and affordability are still the real challenge—so if you're thinking about buying, getting pre-approved and locking in a rate sooner rather than later still makes sense. |
Read full article →
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Keeping Current Matters
When you're shopping for a home, it's easy to focus on mortgage rates and prices, but homeowners insurance is another major monthly cost that can vary significantly depending on where you buy and what you're buying. Factoring this in early helps you get a true picture of what homeownership will actually cost.
| Key takeaway: get insurance quotes before you make an offer so there are no surprises when you close, and ask your lender or real estate agent which insurers tend to offer competitive rates in your area. |
Read full article →
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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 Scott Munds team any time and we'll walk you through your options. |
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5 Centerpointe Dr #400 Lake Oswego OR 97035
(503) 969-9929 | https://scottmunds.com/
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