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Mortgage Market Update
Barrett Financial
Barrett Financial
Saturday, August 1, 2026
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Do you know your home's equity number? |
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Hi there. This week I want to help you see an opportunity you might be overlooking—one that's been building quietly in your home.
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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 bought a home a few years ago, you've likely built more equity than you realize—through monthly payments, home appreciation, or both. That equity can be a powerful financial tool. Some people tap it for home improvements, debt consolidation, or major life expenses through a cash-out refinance or home equity line. Others prefer to let it grow as a safety net. The first step is knowing what you actually have. A quick assessment of your current home value and what you still owe gives you a clear picture of your options and puts you back in control of your finances. Let's run the numbers on your home's current equity and talk through what makes sense for your situation.
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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 Barrett Financial team any time and we'll walk you through your options. |
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