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Mortgage Market Update
Markiesia Scott
Markiesia Scott
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hi there. Home values and your paydown progress add up over time. This week I want to help you see the real picture.
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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 has probably made you money
If you bought a few years ago, or even recently in a stable market, there's a good chance your home is worth more than your mortgage balance. That difference is equity—and it's real money sitting in your house. Equity matters because it opens doors. You can tap it for home improvements, debt consolidation, or other goals through a home equity loan or line of credit. You can also leverage it if you're thinking about upgrading to a new home. The catch: you won't know exactly how much equity you have until you get a sense of what your home is worth today and compare it to what you still owe. If you're curious where you stand, I'd love to walk through your numbers with you. Let's talk about what your equity could mean for your next move.
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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 Markiesia Scott team any time and we'll walk you through your options. |
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