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Mortgage Market Update
Brandon Palmer
Brandon Palmer
Saturday, August 1, 2026
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You might have equity to work with |
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Every week I help borrowers understand where they stand with their homes and their mortgages. This week, let's talk about equity and why it matters to you.
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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 might have more equity than you realize
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe on it. If your home has appreciated since you bought it, you've gained even more. That equity can be a powerful financial tool. Some borrowers tap into it through refinancing, home equity lines of credit, or cash-out refinances to fund repairs, pay off debt, or cover other expenses. Others simply let it grow as a long-term wealth builder. The key is knowing what you have. If you haven't checked your home's current value or calculated your equity position in a while, now is a good time. I'd be happy to walk through the numbers with you and talk through whether any of those options make sense for your situation. Let's take a look at your equity—reach out and we can discuss what it means for your financial goals.
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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 Brandon Palmer team any time and we'll walk you through your options. |
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