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Mortgage Market Update
Melissa Leon Diaz
Melissa Leon Diaz
Saturday, August 1, 2026
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Do you know how much equity you've built? |
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Hey there—I hope things are going well. This week I want to touch on something a lot of homeowners overlook until they really need it.
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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
Your home might be worth more than you think
If you bought your home a few years ago, there's a good chance you've built more equity than you realize. Home values have shifted over time, and every mortgage payment chips away at what you owe. Knowing your equity matters—it opens doors to options like a cash-out refinance to fund repairs, pay off debt, or invest back into your home. The catch is that equity only helps if you know you have it. A quick home valuation and a look at your loan balance can give you a clear picture. If you're curious whether a move makes sense for your situation, I'd love to walk through the numbers with you. Reach out and let's talk about what your 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 Melissa Leon Diaz team any time and we'll walk you through your options. |
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