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Mortgage Market Update
Keila Nelson
Keila Nelson
Saturday, August 1, 2026
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How much equity do you have built up? |
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Hi there. This week I'm sharing something that often surprises homeowners when we sit down and do the math together.
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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
You might have more equity than you realize
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe on it. But here's what surprises many homeowners: if your home's value has climbed since you bought it, you've built equity even faster. That equity can be useful. Some people tap it to fund renovations, pay off higher-interest debt, or finance major life events. Others keep it as a safety net. The tricky part is knowing exactly how much you have without guessing. If you're curious whether a refinance, home equity line, or second mortgage might make sense for your situation, I can help you figure out what you're working with and what your options actually are. Let's talk about your equity and what it might mean for your 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 Keila Nelson team any time and we'll walk you through your options. |
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