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Mortgage Market Update
Thomas Harris
Thomas Harris
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hi there. This week I want to touch on something a lot of homeowners don't think about often enough—but probably should.
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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
Do you know how much equity you've built?
If you've owned your home for a few years, there's a good chance you've built more equity than you realize. Equity is simply the difference between what your home is worth and what you still owe on your mortgage. It grows two ways: as you pay down your loan balance each month, and as your home's value appreciates over time. Why does this matter? Equity can unlock options—whether you're thinking about a refinance, a home improvement project, or just understanding your true net worth. The first step is getting honest about where you stand. I'd be happy to help you run the numbers and explore what your equity means for your situation. Reach out and let's talk about your home's equity and what it could mean for you.
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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 Thomas Harris team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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Thomas Harris
Thomas Harris
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