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Mortgage Market Update
Chris George
Chris George
Saturday, August 1, 2026
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Mortgage rates climb as Fed signals more hikes |
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This week brought some important shifts in the mortgage market that could affect your monthly payment. Here's what homebuyers and owners need to know right now.
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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
How much equity are you sitting on right now?
Every mortgage payment you make builds equity in your home — that's the difference between what your house is worth and what you still owe on it. Over time, this equity becomes real wealth you can tap into if you need it. The longer you've owned your home, the more you've likely built up. If you haven't checked your home's current value in a while, it might surprise you. Rising or stable home values in many markets mean homeowners today have more equity available than they realize. Whether you're thinking about a future renovation, education costs, or just want to know where you stand, understanding your equity is a smart first step. I'd be happy to give you a quick sense of what you might have available.
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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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HousingWire
Mortgage rates climbed to 6.83% this week as Federal Reserve officials signaled they're considering multiple interest rate increases ahead. The 10-year Treasury yield hit 4.74%, which directly influences what you'll pay on a new loan or refinance. If you've been thinking about locking in a rate, this is a good time to talk to your lender about your options.
| Key takeaway: rising rates mean higher monthly payments, so if you're in the market soon, getting pre-approved and moving quickly could save you thousands over the life of your loan. |
Read full article →
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HousingWire
While more than 40% of homes nationwide are seeing price cuts, some markets — especially San Francisco — are holding their value much better. This tells you that your local market matters far more than national headlines when deciding whether it's a buyer's or seller's market. The location where you live will shape your negotiating power and timeline more than anything else.
| Key takeaway: check what's happening in your specific city and neighborhood, not the national average, to understand whether it's time to buy, sell, or hold. |
Read full article →
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HousingWire
Federal regulators have proposed changes to how banks earn credit for lending in underserved communities, which could shift how mortgages are offered in some areas. Small and midsized banks may also face higher thresholds, potentially affecting local lending options. This is worth watching, especially if you live in a rural area or community that relies on smaller financial institutions.
| Key takeaway: community lending practices could shift, so it's smart to maintain relationships with local lenders who understand your area's specific needs. |
Read full article →
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HousingWire
As artificial intelligence makes listing descriptions sound polished everywhere, it's getting harder to spot which agents truly know their stuff. Smart sellers are now looking past pretty words and focusing on an agent's pricing strategy, buyer targeting plan, and how they handle deal complications. This shift means real expertise — not flashy marketing — is becoming the main differentiator.
| Key takeaway: when choosing an agent, ask them to explain their pricing logic and how they'll find the right buyers for your home, not just how their listing will look online. |
Read full article →
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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 Chris George team any time and we'll walk you through your options. |
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2701 E Insight Way, Suite 150, Chandler, AZ, 85286
615-422-4705 | https://www.cgmtgteam.com
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