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Mortgage Market Update
Torben Berndt
Torben Berndt
Saturday, August 1, 2026
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How much equity have you built? |
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Hi there! This week I'm thinking about one of the least glamorous but most important aspects of homeownership: building 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
Your home is doing work for you every month
Every mortgage payment you make builds equity—the difference between what your home is worth and what you still owe. It's one of the most powerful wealth-building tools available, and it happens automatically while you live there. As you pay down principal and your home may appreciate over time, that equity grows. The longer you stay in your home, the faster this compounds. If life circumstances change down the road, you may be able to tap into that equity for renovations, education, or other goals through a line of credit or refinance. Understanding your equity position now helps you make smarter decisions later. I'd love to talk about where you stand today and what your equity could mean for your future. Send me a note if you'd like a quick equity snapshot on your home.
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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 Torben Berndt team any time and we'll walk you through your options. |
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