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Mortgage Market Update
Bruce Gruys
Bruce Gruys
Saturday, August 1, 2026
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How much equity have you built? |
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Hello from the lending desk. I'm sharing thoughts on money moves that help my borrowers sleep better at night.
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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
Have you checked your home equity lately?
If you've owned your home for a few years, you've likely built more equity than you realize. Equity is the difference between what your home is worth and what you still owe on your mortgage—and it can be a powerful financial tool. Whether you're thinking about a renovation, consolidating debt, or just curious about your financial position, knowing your equity number matters. It can open doors to options like home equity lines of credit or cash-out refinancing when life throws you a curveball. The tricky part is that home values shift, and many borrowers don't check in with reality. I'd love to help you get a clear picture of where you stand. It's easier than you'd think, and it takes just a few minutes. Reach out and let's talk through what your equity could mean for your financial 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 Bruce Gruys team any time and we'll walk you through your options. |
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