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Mortgage Market Update
Rafael Santos
Rafael Santos
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 shift focus from rates and payments to something that might be sitting quietly in your home right now: equity. It's one of the most powerful financial tools homeowners have, and it's easy to overlook.
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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 Check
Do you know how much equity you've built?
If you've owned your home for a few years, you likely have more equity than you realize. Every mortgage payment chips away at what you owe, and if your home's value has held steady or climbed, that's equity working in your favor. Knowing your number matters because equity opens doors—whether you're thinking about a home improvement project, consolidating debt, or simply understanding your net worth. The tricky part is that equity doesn't always feel real until you need it. I'd encourage you to pull your mortgage statement and do a quick calculation: what your home might be worth today, minus what you still owe. If you're curious about what that equity could mean for you, I'm here to walk through the options without pressure. Let's schedule a quick call to talk about your home's equity and what it could do for 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 Rafael Santos team any time and we'll walk you through your options. |
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