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Mortgage Market Update
Trey Camp
Edge Home Finance LLC
Monday, November 2, 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 about the housing market's near term. We're breaking down what builders are seeing and why it matters for anyone thinking about buying, selling, or refinancing.
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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 reported their confidence index fell to 29 in October—the weakest reading in 14 years. Builders are struggling with higher mortgage rates, rising construction costs, and labor shortages, which means fewer new homes are coming to market. For you, this could mean tighter inventory and less negotiating power if you're shopping for a new home.
| Key takeaway: Fewer new homes being built now could mean even less selection and higher prices for new construction down the road. |
Read full article →
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Mortgage News Daily
New construction stalled in September, with housing starts dropping and single-family building permits pulling back. This suggests builders are pumping the brakes despite permission to build, likely due to cost and market concerns. It's a sign the housing market is cooling from the builder's perspective.
| Key takeaway: When builders aren't building despite having permits, it signals they're uncertain about future demand and affordability. |
Read full article →
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Mortgage News Daily
The Census Bureau reported new home sales held nearly steady in September, declining less than 1 percent month over month. After a strong August rebound, homebuyers have continued showing interest in new construction, even as inventory remains relatively tight. This suggests at least some buyers are still willing to shop despite higher rates.
| Key takeaway: While the overall trend has been sideways for three years, occasional rebounds remind us that buyer interest can surface even in a tough market. |
Read full article →
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Mortgage News Daily
The FHFA House Price Index rose 0.3 percent from July to August, with annual appreciation now at 2.4 percent. Price gains remain modest compared to recent history, though they vary by region—some areas are seeing stronger growth while others are nearly flat. This slower, steadier pace is quite different from the rapid appreciation many saw in the past few years.
| Key takeaway: Home prices are still climbing, but at a much more manageable pace than before, which could help with affordability in some markets. |
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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