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Mortgage Market Update
Holly L
Holly L Bennett Clark
Saturday, August 1, 2026
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How much equity have you built? |
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Hi there. Some weeks I want to remind you of a tool you might already have but aren't thinking about—your home's 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 Check
Do you know how much equity you've built?
If you've owned your home for a few years, you're probably sitting on more equity than you realize. Every mortgage payment builds it—and so do home value increases in your area. Knowing your equity matters because it opens doors: you might qualify for a cash-out refi to pay off debt, fund repairs, or consolidate loans at a better rate. Even if rates aren't ideal for a straight refinance right now, a cash-out refi can still make sense if the equity is there and your needs are real. The first step is simple: get a current home value estimate and compare it to what you still owe. I can pull together a quick equity analysis for you with no obligation. It's one of those conversations that often surprises people—in the best way. Reach out and I'll give you a clear picture of your equity position and what it could mean for your financial goals.
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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 Holly L team any time and we'll walk you through your options. |
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