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Mortgage Market Update
Derek Niday
The Niday Lending Team
Saturday, August 1, 2026
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Do you know how much equity you've built? |
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Hi there. This week I want to walk you through something that matters more than most homeowners realize—the equity sitting in your home.
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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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Home Equity
What's your home actually worth to you?
If you bought a few years ago, you've likely built up equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. It can be a financial tool. Some people tap into it to fund home improvements, pay off debt, or cover unexpected expenses through a home equity line of credit or cash-out refinance. Others leave it alone and let it keep growing. The key is knowing what you have. Even if you're not ready to use it now, understanding your equity position helps you make smarter money decisions down the road. I'd be happy to help you figure out where you stand. Let's talk about your home's equity and what options might make sense for your situation.
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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 Derek Niday team any time and we'll walk you through your options. |
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