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Friday, November 6, 2026 |
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Mortgage Market Update
New homes coming to Clearmont—what it means for you
This week we're looking at housing growth in your region and a couple of community wins that could affect your neighborhood. Here's what matters to homebuyers and homeowners right now.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
8.12%
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Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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 looking at financing options, it's easy to assume all mortgages are created equal. They're not. Different loan programs have different rules about down payments, credit requirements, how quickly you build equity, and what happens if rates shift. A first-time buyer might benefit from one program, while a homeowner with substantial equity could be better served by another. The right fit depends on your situation, your timeline, and your comfort level. Understanding what's actually available to you—beyond the most common option—can open doors you didn't know existed. I'd love to walk you through what makes sense for your specific goals.
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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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Clearmont just acquired land designated for residential development, with new plots ranging from 5 to 10 acres. This kind of growth can mean more housing options, potentially more competition in the market, and opportunities for families looking to build or buy in areas with room to expand.
| Key takeaway: new housing supply in your region can affect both availability and pricing—worth watching if you're planning to buy or sell in the next year or two. |
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Voters approved continuing the 1% general purpose excise tax for four more years. This tax helps fund county services and infrastructure that directly or indirectly support your community's stability and property values.
| Key takeaway: stable, funded local government means better roads, services, and community conditions—all things that matter to your home's long-term value. |
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Sheridan Memorial Hospital Foundation awarded over $58,000 in scholarships to 47 employees for clinical education and certification. A stronger local healthcare workforce means better services for your community and a more attractive place to live and raise a family.
| Key takeaway: community investments in healthcare quality and workforce development make neighborhoods more desirable, which supports home values over time. |
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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 Altitude Home Mortgage team any time and we'll walk you through your options.
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954 N Main Street
302187739
Altitude Home Mortgage · Unsubscribe
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