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Mortgage Market Update
Elijah Bernhardt
Elijah Bernhardt
Saturday, August 1, 2026
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Do you know how much equity you've built? |
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Hi there. This week I want to talk about something that quietly works in your favor every month: home equity. Let me explain why it matters and how to check yours.
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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. Equity is the difference between what your home is worth today and what you still owe on your mortgage. As you make monthly payments, that gap grows—and so does your financial cushion. Knowing your equity matters because it opens doors. You might refinance into better terms, tap that equity for a major repair or renovation, or even explore a second mortgage if life throws you a curveball. The best part? You don't need a crystal ball to figure it out. A quick home value check and a look at your loan balance tells the whole story. If you'd like help understanding what you've built so far, I'm here to walk you through it. Reach out and we can take a look at your equity together.
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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 Elijah Bernhardt team any time and we'll walk you through your options. |
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