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Mortgage Market Update
Joseph Kelley
Joseph Kelley
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hi there. This week I want to help you see something about your mortgage that often goes unnoticed until you really need it—your growing equity.
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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
You might have more equity than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. As you pay down principal and your home's value holds or grows, that equity becomes real wealth in your pocket. Many homeowners don't realize how much they've accumulated over just a few years, especially if they've made extra payments or their neighborhood has appreciated. Your equity can be tapped for a home improvement loan, used to eliminate PMI, or leveraged if you're thinking about selling or refinancing. The best part is that equity builds automatically every month you're on time with your payment.
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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 Joseph Kelley team any time and we'll walk you through your options. |
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916-612-4294 | https://joethemortgagegiant.com
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