Competing with new construction is the new reality for every DFW seller. 43% of home builders cut their prices last month, and 65% are throwing in incentives like rate buydowns and closing costs. So if you're selling a resale home in Dallas Fort Worth right now, the house down the street isn't your only competition. The builder is.
This week, Mike Mills breaks down how a resale still wins, and kicks off a new series on building your own AI assistant from scratch.
In this episode:
• Mortgage rates as of November 2: tied for the lowest since September 23, and what election week and Friday's jobs report could do next
• Why the Treasury's $1.4 trillion borrowing estimate works against lower rates
• Buyer tip: why the credit score on your phone isn't the one your lender sees
• Housing data: builder confidence at 29, the lowest since 2012, new home prices down almost 4%, and Dallas 17th of 19 cities on Case-Shiller
• Seller tip: what to do when Zillow and your agent don't agree
• Mike's Mind: prices up 31% since 2019, a $28,303 family health plan, Microsoft buyouts, record retirement accounts, Texas data centers, hacked grocery freezers, and a data center built from human brain cells
• Agent tip: the one line to use when a builder's rate is stealing your buyer. The incentive ends. The price doesn't.
• AI segment: Build Your Own AI Assistant, Part 1. Draw the map of your pillars before you build a single agent.
Want the Map Your Life prompt from the AI segment? Text or email Mike and he'll send it over.
⏱ Chapters
00:00 43% of builders just cut their prices
00:51 This week's rundown
01:48 Mortgage rates: election week and the jobs report
05:59 Buyer tip: your app score vs. your mortgage score
07:22 DFW housing data: builders slashing prices
10:13 Seller tip: when Zillow and your agent don't agree
11:46 Mike's Mind
15:14 Agent tip: the incentive ends, the price doesn't
16:45 Build Your Own AI Assistant, Part 1: Draw the Map
24:00 Recap
📊 Mortgage rates (Mortgage News Daily Index, as of November 2, 2026)
30-Year Fixed Conventional: 7.27%
15-Year Fixed Conventional: 6.92%
30-Year FHA: 6.91%
30-Year VA: 6.92%
30-Year Jumbo: 7.52%
These are average market rate index numbers from Mortgage News Daily and may not reflect the specific rates you qualify for. Mortgage rates vary widely depending on your credit score, loan type, down payment, and more. Talk to a licensed mortgage professional, like Mike, or your lender.
📚 Sources mentioned
Mortgage News Daily rate index and 10-year Treasury data · U.S. Treasury borrowing estimates (Nov 2) · Sage Advisory on midterm-year yields · NAHB/Wells Fargo Housing Market Index (October) · Census new home sales (September) · S&P Cotality Case-Shiller Index (August) · Zillow Zestimate accuracy page · BLS CPI and Usual Weekly Earnings · KFF Employer Health Benefits Survey · TechCrunch on Microsoft buyouts · Bloomberg on hedge fund short positions · Investment Company Institute · Industrial Info Resources · AP on supermarket freezer hacks · Cortical Labs · LangChain LangGraph docs · Stanford, "Lost in the Middle"
📌 Resources & Links
Podcast Website: https://www.thetexasrealestateandfinancepodcast.com/
Mike Mills TX: https://mikemillstx.com
Contact Mike: mike@mikemillstx.com | 817-689-6079
📱 Connect on Social
Instagram: https://www.instagram.com/mikemillstx/
YouTube: https://www.youtube.com/@mikemillstx
X (Twitter): https://x.com/mikemillstx
LinkedIn: https://www.linkedin.com/in/mike-mills-49a09621/
Mike Mills, NMLS #756263 · GVC Core Community Mortgage · NMLS #2334
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