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Mortgage Market Update
Michael King
Michael King
Saturday, August 1, 2026
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How much equity are you sitting on? |
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Hi there. This week I want to talk about something that tends to fly under the radar for many homeowners — but shouldn't.
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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?
Your home's value has likely moved since you bought it, and your monthly payments have been chipping away at your loan balance the whole time. That combination means you probably have more equity than you realize — and that equity can work for you in several ways. Whether you're thinking about refinancing, tapping into a home equity line, or just curious about where you stand, it's worth getting a clear picture of your current position. The housing market shifts, but your equity is real money. If you'd like to sit down and talk through what your home and loan look like today, I'm here to walk you through it.
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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 Michael King team any time and we'll walk you through your options. |
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619-944-1137 | https://www.barrettfinancial.com/michael-king
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