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Mortgage Market Update
Mayra Stewart
Mayra Stewart
Saturday, August 1, 2026
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What your mortgage payment is really doing |
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Hi there — this week I want to talk about something that happens behind the scenes with every payment you make, and why it matters.
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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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Building Equity
What your mortgage payment is really doing
Every month, part of your payment goes toward interest and part goes toward principal — that principal portion is you building equity in your home. Early on, interest takes the bigger slice, which is normal. But as time goes on, more of each payment chips away at what you owe, and your ownership stake grows. This is one reason staying in a home longer tends to pay off: you're not just making payments, you're accumulating real wealth. If you've owned for a few years, you might be surprised how much equity you've actually built. That equity can matter for refinancing options, home equity lines, or just knowing where you stand. I'd be happy to walk through your numbers and show you exactly what's happening with your mortgage. Get in touch if you'd like to see a breakdown of your principal and interest.
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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 Mayra Stewart team any time and we'll walk you through your options. |
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