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Mortgage Market Update
Trey Camp
Edge Home Finance LLC
Tuesday, November 3, 2026
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New home sales strong, but builder confidence hits 14-year low |
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This week brought mixed signals from the housing market. We're seeing solid activity in new home sales, but builders are increasingly worried about what's ahead—and that should matter to you.
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Affordability Check
When your payment changes, your budget needs to know
Interest rates move constantly, and when they do, your monthly payment moves with them. If you've been thinking about buying or refinancing, a rate shift can change what you're actually able to afford each month. The difference might be small or significant—but it's real, and it matters to your household budget. The smart move is to check where rates are landing right now, run the math on what a new payment would look like, and see if it still fits your plan. This isn't about committing to anything; it's about knowing your actual numbers so you can make a confident decision. I'm here to walk through that with you anytime.
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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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Mortgage News Daily
New home sales barely budged in September, staying near an annual pace of 676,000 units—a sign the recent rebound in August is sticking around. While that might sound modest, it's actually encouraging after the volatility we've seen. The number of new homes available for sale remains modest at 476,000, which could mean less selection for buyers shopping in the new construction market.
| Key takeaway: A stable new home market suggests builders still see reason to keep building, even if they're not exactly optimistic about the road ahead. |
Read full article →
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Mortgage News Daily
The NAHB's housing sentiment index fell to 29 in October—the worst reading in 14 years. Builders cite higher mortgage rates, rising construction costs, and ongoing labor shortages as the main culprits. More concerning: fewer people are walking into model homes to shop, which typically signals trouble ahead for sales activity.
| Key takeaway: When builders get pessimistic, it usually means slower new construction and fewer homes on the market down the road, which could tighten inventory and keep prices elevated. |
Read full article →
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Mortgage News Daily
Home prices edged up 0.3% month-over-month in August, with annual appreciation now at 2.4% according to the FHFA House Price Index. The gains are real, but they're nowhere near the jaw-dropping appreciation we saw a few years ago. Some regions are doing much better than others, ranging from 0.5% annual gains in the Mountain states to 4.4% elsewhere.
| Key takeaway: Slow and steady price growth means less equity building than homeowners got used to, but it also means affordability isn't eroding as quickly as it did before. |
Read full article →
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Mortgage News Daily
New construction took a step back in September, with housing starts declining and single-family building permits pulling back. The mixed picture suggests builders are hitting pause before starting projects, even though they're still getting permits approved. Completions did edge higher, meaning homes started earlier are still making their way to market.
| Key takeaway: Slowing starts could mean fewer new homes hitting the market soon, but the delayed impact gives you a window to understand how supply will affect your local market. |
Read full article →
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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 Trey Camp team any time and we'll walk you through your options. |
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5860 Baker Road Minnetonka, MN 55345, Individual NMLS# 1377038, Company NMLS# 891464 Equal Housing Opportunity
NMLS# 1377038 · Company NMLS# 891464
361.232.9117 | loansbytrey.com
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