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Mortgage Market Update
Erez Shimoni
Erez Shimoni
Saturday, August 1, 2026
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Rates hold steady, but your home's equity just hit a record |
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This week brought some good news on the rate front and a milestone moment for homeowners. Here's what's happening in your market and wallet.
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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
Do you know how much equity you've built?
If you've owned your home for a few years and made regular payments, you likely have more equity than you realize. Equity is the difference between what your home is worth and what you still owe on the mortgage—and it can work for you in surprising ways. Whether you're thinking about refinancing, making a major home improvement, or just curious about your financial position, knowing your equity number is the first step. It can also open doors to options you didn't know existed. I'd love to help you figure out where you stand and what that means for your 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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Redfin
Homebuying demand is cooling as mortgage rates climb to their highest point in twelve months. Higher rates are making monthly payments less affordable for buyers, which is shifting how quickly homes are selling and how aggressively people are competing for them.
| Key takeaway: if you've been on the fence about buying, now's a good time to understand your real budget—rates may not budge much in the short term. |
Read full article →
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The Close
US homeowner equity has climbed to $17.9 trillion, meaning many of you have real wealth built into your homes. However, fewer homeowners are considered "equity-rich," and higher monthly payments are keeping people from selling or refinancing even when they have the equity to do so.
| Key takeaway: you likely have more home equity than ever, but affordability challenges mean that wealth is harder to unlock right now. |
Read full article →
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Mortgage News Daily
New home construction sales ticked up slightly in June after a soft May, though they're still running behind last year's pace. Elevated mortgage rates and affordability pressure continue to limit how many buyers can jump into the market.
| Key takeaway: builders are cautiously optimistic, but it's still a buyer-friendly environment if you can afford the higher monthly payments. |
Read full article →
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Mortgage News Daily
Housing construction activity jumped back in June after a weak May, suggesting builders are still willing to start new projects despite recent caution. This signals confidence that demand will return, even if permit applications continue to lag.
| Key takeaway: steady construction means more inventory could be coming to market in the coming months, which may give you more choices as a buyer. |
Read full article →
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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 Erez Shimoni team any time and we'll walk you through your options. |
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908-705-5882 | www.applywitherez.com
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