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Mortgage Market Update
Megan Luksha
Megan Luksha
Saturday, August 1, 2026
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You might have built more equity than you know |
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Hi there. This week I want to talk about something many homeowners overlook—the value they've already built into their homes.
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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 Awareness
You might have more home equity than you think
If you bought a few years ago or have been paying down your mortgage steadily, there's a good chance you've built up equity you haven't thought much about. Equity is the difference between what your home is worth and what you still owe on your loan—and it can open doors. Some people use it to refinance into better loan terms, others tap it for major expenses or home improvements through a home equity line or loan. The first step is understanding what you actually have. If you'd like to get a rough picture of your equity position, I'm happy to walk through it with you. It takes just a few minutes and might reveal an opportunity you didn't realize was there. Let me know if you'd like to explore what your home equity could do 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 Megan Luksha team any time and we'll walk you through your options. |
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