Leader Bank is an Equal Housing Lender

06/05/2026

Rates were flat during the week ending June 5, 2026, as peace talks in the Middle East continued to drag on with no new progress. Leader Bank is an Equal Housing Lender.

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05/29/2026

Rates improved during the week ending May 29, 2026, as markets anticipated a peace deal. Leader Bank is an Equal Housing Lender.

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05/22/2026

Whether you're looking to save up for your first home or just develop better spending habits, we've got some helpful money-saving tips for you! https://www.leaderbank.com/blog/10-simple-ways-save-money-each-month

05/22/2026

Rates crept higher during the week ending May 22, 2026, as inflation fears continued to drive up bond yields globally. Leader Bank is an Equal Housing Lender.

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05/22/2026

Condo Update #4

Condo Master Insurance

Condo insurance has become a significant challenge for many Homeowners Associations (HOAs) due to the recent increase in costs. As insurance premiums rise, HOAs are often forced to find ways to reduce these costs, which can sometimes lead to inadequate coverage. This situation is particularly concerning as it may leave condo owners vulnerable in the event of a disaster or significant damage. Ensuring that the insurance coverage meets all necessary requirements while managing costs is a delicate balance that HOAs must navigate carefully.

Here are some highlights of requirements:

• 100% Replacement Cost is required.
• Policies that limit, depreciate, reduce or otherwise settle losses at anything other than a replacement cost basis are not acceptable.
• NEW: Lower than replacement cost on a roof ONLY is allowed.
• Ordinance & Law endorsement required, if not available, Freddie Mac is OK.
• NEW: Maximum ‘per unit’ deductible is $50,000. HO-6 Required when per unit deductible exists.
• Properties in a flood zone. Flood insurance is required for entire subject property building. If unit does not have $250,000 in coverage per unit, any RC discrepancy between Master and Flood needs to be reconciled. Supplemental is only allowed if HOA has flood for 80% of RC.
• Fidelity Bond Insurance Required on projects > 20 units.

05/15/2026

Mortgage rates creeped higher during the week May 15, 2026, as both wholesale and consumer inflation jumped. Leader Bank is an Equal Housing Lender.

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05/08/2026

Rates moved higher early in the week ending May 8, 2026, but dropped later in the week on optimism that a deal with Iran is forthcoming. Leader Bank is an Equal Housing Lender.

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05/08/2026

Condo Changes for 2026 / Item #2

Budget

This is the #1 Reason for a Condo Project being declined and considered Non-Warrantable

• Needs to be current year

• Annual contribution to reserve account needs to be 10% of HOA fee income

• Annual contribution requirement increasing to 15% starting January 4, 2027

• To calculate 10% reserve requirement, the reserve contribution can be deducted from fee income. Then take 10% of the total for minimum requirement.



Example:



HOA Fee Income: $10,000

Reserve Contribution: $910



$10,000

- $910

$9090 X 10% = $909 Reserve Contribution (This Works!)

05/01/2026

Rates moved higher during the week ending May 1, 2026, as oil prices rose and the Strait of Hormuz remained closed to commercial traffic. Leader Bank is an Equal Housing Lender.

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04/24/2026

Rates remained unchanged during the week ending April 24, 2026, as the cease fire in the Middle East helped oil prices hold steady. Leader Bank is an Equal Housing Lender.

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