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Mortgage Market Update
Michael Medina
Michael Medina
Monday, August 3, 2026
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How much equity have you built? |
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Hi there. I'm sharing thoughts and guidance on mortgages, homeownership, and smart money moves—things I talk about with borrowers like you every day.
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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 likely sitting on more equity than you realize. Every mortgage payment chips away at what you owe, and if your home has appreciated even modestly, that's equity too. That matters because equity can unlock opportunities—whether you're thinking about refinancing, making improvements, or accessing funds for life's big moments. I've found that many homeowners haven't thought about their equity in months or years. It's worth checking in on. A quick conversation can help you understand what you have available and what options might make sense for your situation. Let's talk about your equity and what it could mean for you.
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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 Michael Medina team any time and we'll walk you through your options. |
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