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Mortgage Market Update
Kiro Habib
Kiro Habib
Friday, November 6, 2026
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Which mortgage type is right for you? |
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Hi there. This week I want to cover something that often gets overlooked when homeowners think about refinancing or buyers start shopping.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates 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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Loan Programs
Not all mortgages work the same way
When you're shopping for a home or thinking about your current loan, the interest rate gets most of the attention. But the type of mortgage you choose—fixed-rate versus adjustable, conventional versus government-backed—shapes your payment and your financial picture for years. Each program has different rules about down payments, credit requirements, and how your rate behaves over time. The right choice depends on your situation: how long you plan to stay, your risk tolerance, and what you can afford today and later. I'd be happy to walk through which programs make sense for your goals. Let's talk about which loan program fits your needs best.
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Tip of the Week
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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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 Kiro Habib team any time and we'll walk you through your options. |
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