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Mortgage Market Update
Joe Edwards
Joe Edwards
Saturday, August 1, 2026
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How much equity have you built? |
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Building wealth through homeownership doesn't always feel dramatic, but it's real and steady. This week, let's talk about one of the best-kept secrets of being a homeowner.
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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 Building
Your home is doing work for you
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. It's one of the most powerful wealth-building tools available to homeowners, and it happens quietly in the background month after month. The longer you own, the more this advantage compounds. Beyond payments, home improvements and market appreciation can also grow your equity faster. Many borrowers don't realize how much equity they've actually built until they need it—whether for a cash-out refinance, a home equity line of credit, or simply knowing their net worth. If you've owned your home for a few years, it's worth taking stock of where you stand. I'd be happy to walk you through what that number looks like and talk through your options. Let's take a quick look at your equity position—reach out anytime.
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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 Joe Edwards team any time and we'll walk you through your options. |
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