|
Mortgage Market Update
James S Boggs
James S Boggs
Saturday, August 1, 2026
|
How much equity have you actually built? |
|
Hello—I'm sending a quick note this week about something I notice homeowners often overlook: the equity they've built in their homes. It's easier to check than you'd think, and it could open some useful options for you.
|
|
National Mortgage Rates · July 30, 2026
|
%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%232672ac%22%2C%22borderWidth%22%3A2%7D%5D%7D%2C%22options%22%3A%7B%22plugins%22%3A%7B%22legend%22%3A%7B%22display%22%3Afalse%7D%7D%2C%22scales%22%3A%7B%22y%22%3A%7B%22ticks%22%3A%7B%22callback%22%3A%22function(v)%7Breturn%20v%2B%5C%22%25%5C%22%7D%22%2C%22color%22%3A%22%23666%22%7D%2C%22grid%22%3A%7B%22color%22%3A%22rgba(0%2C0%2C0%2C0.06)%22%7D%7D%2C%22x%22%3A%7B%22grid%22%3A%7B%22display%22%3Afalse%7D%2C%22ticks%22%3A%7B%22font%22%3A%7B%22size%22%3A11%7D%2C%22color%22%3A%22%23666%22%7D%7D%7D%7D%7D&w=520&h=180&bkg=white&f=12) |
|
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.
|
|
|
|
|
Equity Building
Do you know how much equity you've built?
If you've been paying your mortgage for a while, you likely have more wealth sitting in your home than you realize. Every payment you make builds equity—the difference between what your home is worth and what you owe on it. That equity can become a tool: it opens doors to refinancing, home equity loans, or lines of credit when you need cash for repairs, education, or other life goals. The catch is that most people don't check. If you bought a few years ago or have made extra payments, your equity position may have shifted more than you think. It's worth a conversation to understand what you have and what options might be available to you.
|
|
Tip of the Week
Landscaping maintenance protects your home's value — overgrown yards are the number one curb appeal issue buyers notice.
|
|
Tips for Homeowners
HOA Fees and How They Affect Your Mortgage
|
|
1.
|
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.
|
|
2.
|
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.
|
|
3.
|
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.
|
|
|
Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the James S Boggs team any time and we'll walk you through your options. |
|
|
|
2701 East Insight Way, Suite 150, Chandler, AZ 85286
210-378-5189 | https://www.barrettfinancial.com/jboggs
You are receiving this from James S Boggs. Unsubscribe
|
