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Mortgage Market Update
Brett Stratton
Barrett Financial Group
Saturday, August 1, 2026
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How much equity have you built? |
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Hi there. This week I want to talk about something a lot of homeowners overlook until they really need to know it: equity. Here's why it matters.
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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 of your home do you actually own?
If you've been paying your mortgage for a few years, you've probably built up more equity than you realize. Every payment chips away at what you owe and adds to what you own. That equity can be useful—whether you're thinking about selling, refinancing, or tapping into it for a major expense down the road. But here's the thing: most homeowners don't have a clear picture of their current equity position. Home values shift, and so does your loan balance. It's worth a quick conversation to figure out exactly where you stand. Knowing your equity opens up options you might not have considered.
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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 Brett Stratton team any time and we'll walk you through your options. |
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2701 East Insight Way suite 150, Chandler, AZ 85286
+1 214-709-1484 | https://brettstratton.theradcrm.com/homepage
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