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Mortgage Market Update
Joe Almeida
Joe Almeida
Saturday, August 1, 2026
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How much equity have you built? |
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Hello,
There's something powerful happening with your home every single month—whether you're thinking about it or not.
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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 working for you—here's how
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe on it. Equity is real wealth, and it grows in two ways: as you pay down your loan balance, and as your home's value appreciates over time. The longer you've owned your home, the more equity you've likely built up. This matters because equity gives you options. You can borrow against it if you need cash for repairs, education, or other goals. You can use it as a down payment on a new home. Or you can simply keep building it as a path toward owning your home outright. If you're curious about how much equity you've accumulated, I'd love to walk through your situation with you. Let's talk about your equity and what it means for your financial picture.
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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 Joe Almeida team any time and we'll walk you through your options. |
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