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Mortgage Market Update
Jessica Higgins
Jessica Higgins
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hi there. This week I'm sharing something that surprises a lot of homeowners—how quickly equity can add up when you own the right way.
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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
Your home is probably worth more than your loan
One of the best-kept secrets about homeownership is that equity builds two ways at once. Every mortgage payment you make chips away at what you owe, and in most markets, your home's value appreciates over time. That means you're getting ahead on both fronts—even while you sleep. If you've owned your home for a few years, you may have more equity than you realize. That equity can become a tool: it opens doors to lower rates through refinancing, lets you borrow against it if you need cash, or simply gives you peace of mind that your investment is working. The first step is knowing what you actually have. I'd love to help you get a clear picture of your equity position and what options might make sense for your situation. Reach out and we can do a quick equity check—it takes just a few minutes and could change your financial picture.
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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 Jessica Higgins team any time and we'll walk you through your options. |
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