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Friday, November 6, 2026 |
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Mortgage Market Update
New homes coming to Sheridan — what it means for you
We watch local growth trends because they shape the housing market where you live. This week brought news that could affect home values, availability, and competition in your area.
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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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A land purchase is opening the door to new residential growth in the Clearmont area, with plans for 5- to 10-acre plots designed to attract families to the region. More available land and new home construction can mean better inventory for buyers and potentially more competitive pricing as supply increases.
| Key takeaway: if you've been waiting for more options in the Clearmont market, this development could bring new opportunities within the next year or two. |
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Voters approved the continuation of the 1% general purpose excise tax (GPET) for another four years in this week's election. This tax funds county services and infrastructure that support community growth — things like roads, utilities, and public services that matter to homeowners and property values.
| Key takeaway: the renewal signals continued public investment in the infrastructure that keeps our community functioning and attractive to new residents and homebuyers. |
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Sheridan Memorial Hospital Foundation awarded over $58,000 in scholarships to 47 hospital employees for clinical education and certification. A stronger local healthcare workforce makes the community more attractive and stable — things that matter to families considering where to buy a home.
| Key takeaway: community investments like these in job training and education strengthen the local economy and make neighborhoods more desirable places to live. |
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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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