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Mortgage Market Update
Kiro Habib
Kiro Habib
Friday, November 6, 2026
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What type of mortgage fits you |
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Hi there. This week I want to walk through something that often gets overlooked when people compare mortgages.
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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 looking at your options—whether you're buying or refinancing—the interest rate gets most of the attention. But the type of loan you choose matters just as much. Some programs let you build equity faster. Others keep your payment stable for decades. A few work better if you plan to move in a few years. The right choice depends on your timeline, how long you want to stay in your home, and what kind of payment predictability matters to you. I've seen borrowers save real money just by matching the loan type to their actual life plan, not the one they think they should have. Let's talk about which loan program might fit your situation 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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