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Mortgage Market Update
Jon Taw
Edge Home Finance
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 about the housing market's near-term outlook, along with a few bright spots that might surprise you. Here's what matters for your wallet and your timeline.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates 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
Why your loan type matters more than you think
Not all mortgages are built the same. The difference between a fixed-rate loan, an adjustable-rate mortgage, or a government-backed program can shape your payment stability and long-term costs in ways that go well beyond the interest rate itself. Some programs offer flexibility if life changes; others lock in certainty for three decades. The right choice depends on your timeline, risk tolerance, and how long you plan to stay in your home. If you've never discussed which loan structure actually fits your situation, that's a conversation worth having. I'd like to help you understand your real options.
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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, marking its weakest reading in 14 years. Builders are struggling with higher mortgage rates, rising construction costs, and tight labor markets—and fewer potential buyers are even showing up to look at new homes. This slowdown could eventually mean less competition from new construction if you're shopping, but it also signals builders expect tougher times ahead.
| Key takeaway: a pullback in new construction could ease competition for existing homes, though it also reflects genuine uncertainty in the market. |
Read full article →
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Mortgage News Daily
Home prices edged up just 0.3% from July to August, with annual appreciation sitting at 2.4% according to the FHFA House Price Index. The good news is that runaway appreciation has cooled considerably—but gains are still happening, just at a much slower pace than the frenzy of 2020–2021. Different regions are seeing very different trends, with some areas barely moving while others are still appreciating noticeably.
| Key takeaway: if you've been waiting for price growth to flatten, you're getting closer to that reality, though some patience may still be needed depending on your market. |
Read full article →
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Mortgage News Daily
New home sales held up reasonably well in September, declining just 0.6% from August at a pace of 676,000 homes annually. While that's good news on the surface, the underlying picture shows the market has been essentially sideways for nearly three years, with inventory of new homes staying relatively tight. Builders aren't rushing to ramp up production, which keeps supply constrained even as demand remains modest.
| Key takeaway: steady sales might sound positive, but the real story is a market stuck in neutral—neither booming nor crashing. |
Read full article →
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Mortgage News Daily
Existing home sales picked up slightly in September, but the broader picture hasn't changed much since late 2023—the market is treading water at roughly 4 million homes per year, well below the 6+ million pace we saw in 2021 and 2022. This stalled activity reflects both higher rates keeping some buyers on the sidelines and a shortage of homes for sale keeping others frustrated. If you're selling, lower inventory can still work in your favor, but if you're buying, your choices remain limited.
| Key takeaway: low inventory is still a buyer's challenge, but the lack of urgency in the market means you have some negotiating room if you do find the right home. |
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 Jon Taw team any time and we'll walk you through your options. |
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4697801155 | jontaw.com
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