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Mortgage Market Update
Johnathan Lee
Johnathan Lee
Saturday, August 1, 2026
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Do you know how much equity you've built? |
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Hi there. This week I'm thinking about equity—one of the easiest things to ignore until you 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 Building
What's your home actually worth to you right now?
If you've owned your home for a few years, you've likely built up equity—the difference between what your home is worth and what you still owe. That equity is real money. It can help you refinance to a better rate, tap into a home equity line for renovations or expenses, or give you options if life circumstances change. The tricky part is knowing what you actually have. Home values shift with the market, and every mortgage payment chips away at what you owe. I often find that borrowers are surprised—sometimes pleasantly—by how much equity they've accumulated. If it's been a while since you've thought about yours, now's a good time to get a clear picture. Let's take a look at your equity position and talk through what options might be available to 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 Johnathan Lee team any time and we'll walk you through your options. |
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