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Tuesday, November 3, 2026 |
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Mortgage Market Update
Local schools shine, new development coming to Sheridan
We've got some good news about what's happening in Sheridan this week. Here are a few stories that might matter to you and your family as you think about home and community.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
8.13%
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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
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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Sheridan City Council unanimously approved the second reading of an ordinance to rezone about 26 acres on Yellowtail Drive. The rezoning still needs final approval, but it's a signal that new development is coming to that area. If you're thinking about buying or selling in Sheridan, watching where development happens can tell you a lot about where the community is headed.
| Key takeaway: New development approvals like this one can affect property values and neighborhood character over time, so it's worth paying attention to what's being built near your home. |
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Sheridan County School District 2 scored a composite 20.6 on the ACT, landing it third place among all Wyoming school districts. Strong schools are one of the biggest reasons families choose where to buy, and this kind of achievement matters when you're deciding whether a neighborhood is right for your family.
| Key takeaway: School performance is often a major factor in home values and neighborhood desirability, so quality education in your area can be good news for long-term homeownership. |
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A Sheridan family turned their baking passion into a business after moving to town to be closer to loved ones. It's a nice reminder of what draws people to our community and how local businesses make neighborhoods worth living in. When you're thinking about putting down roots here, these are the kinds of places that make a house feel like a home.
| Key takeaway: Thriving local businesses and strong family ties are part of what makes a community attractive to homebuyers and helps sustain healthy neighborhoods. |
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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
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