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Mortgage Market Update
Mark Succarotte
The Succarotte Team
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 focus on something that often gets overlooked — but shouldn't.
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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've likely built more equity than you realize. Every mortgage payment chips away at your balance, and if your home's value has gone up, that's equity too. Knowing this number matters because it opens doors — you might have options to tap that equity for a major expense, consolidate debt, or refinance into a better loan term. The catch is that most homeowners never stop to calculate it. I'd encourage you to take five minutes this week to add up what you owe versus what your home is worth. If you're not sure where to start, I'm here to help you figure it out and talk through what makes sense for your situation. Reach out anytime — I can run the numbers with you and explain what your equity means for your options.
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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 Mark Succarotte team any time and we'll walk you through your options. |
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