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Mortgage Market Update
Deuane Woodard
Deuane Woodard
Saturday, August 1, 2026
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How much equity have you built so far? |
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Hi there—this week I want to talk about something that's quietly working in your favor every single month: the equity you're building in your home.
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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
How much equity are you sitting on right now?
Every mortgage payment you make builds equity in your home—that's the difference between what your house is worth and what you still owe on it. Over time, this becomes real wealth you can tap into. If you've owned your home for a few years, you might be surprised how much equity you've accumulated, especially with home values the way they've been. Whether you're thinking about a major renovation, need cash for something important, or just want to understand your financial position better, knowing your equity is the first step. I'd be happy to give you a quick picture of where you stand and what options might make sense for your situation. Reach out anytime—I can pull together an equity snapshot for you in a few minutes.
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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 Deuane Woodard team any time and we'll walk you through your options. |
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