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Mortgage Market Update
Lee Simanoff
Lee Simanoff
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hi there. This week I want to help you see a part of your home's story that's often hidden in plain sight.
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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 payments, that gap grows—and it can open doors you didn't know you had. Maybe you want to tap into it for a major renovation, consolidate debt, or fund something important. The first step is knowing the number. A quick home valuation and a look at your current loan balance will show you exactly where you stand. If you're curious about what options that equity unlocks, I'd love to walk you through them. Let's sit down and talk about your equity—no obligation.
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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 Lee Simanoff team any time and we'll walk you through your options. |
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