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Mortgage Market Update
Trey Camp
Edge Home Finance LLC
Tuesday, November 3, 2026
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Builder confidence hits 14-year low—what it means for you |
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This week brought some sobering news from home builders, along with a mixed picture on home prices and new construction. Here's what matters for your wallet and your next move.
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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
The National Association of Home Builders' confidence index fell to 29 in October—its weakest level in 14 years. Builders cite persistent headwinds: higher mortgage rates, rising construction costs, labor shortages, and limited available land. Fewer buyers are actively looking, which is putting real pressure on the new-home market.
| Key takeaway: Lower builder confidence typically means fewer new homes on the market, which could keep supply tight and put upward pressure on prices for years to come. |
Read full article →
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Mortgage News Daily
New home sales stayed largely flat in September, down just 0.6% from August and confirming that last month's rebound was real. The Census Bureau recorded sales at a 676,000-unit annual pace, though the number of homes available for sale dropped to 476,000 units. The market has been sideways for nearly three years now.
| Key takeaway: Steady new-home sales combined with shrinking inventory suggests builders aren't racing to build, which keeps competition low for the homes that do get listed. |
Read full article →
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Mortgage News Daily
Home price appreciation edged up in August, with the FHFA House Price Index gaining 0.3% month-over-month and 2.4% year-over-year. The gains are modest by historical standards, but the direction is up. However, regional variation is significant—some areas are seeing 4.4% annual appreciation while others are stuck near 0.5%.
| Key takeaway: Prices are rising, but the pace is slower than normal, so this isn't the runaway market of 2021—though where you live makes all the difference. |
Read full article →
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Mortgage News Daily
Existing home sales edged slightly higher in September, but the overall trend tells the real story: sales plummeted from over 6 million units annually in 2022 to around 4 million by late 2023, and they've been flat ever since. Without significant changes in supply or rates, don't expect a sharp turnaround anytime soon.
| Key takeaway: The used-home market remains sluggish due to a combination of tight inventory and higher mortgage rates, so sellers still have more leverage than buyers in most places. |
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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