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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 housing construction, along with mixed signals on home prices and sales. Here's what matters for your wallet and your timing.
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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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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 dropped to its lowest point since 2012, driven by higher mortgage rates, rising construction costs, and labor shortages. This kind of builder pessimism typically means fewer new homes hitting the market, which can keep prices elevated and limit your options as a buyer.
| Key takeaway: if you're shopping for a new home, expect tighter inventory and potentially less negotiating power in the months ahead. |
Read full article →
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Mortgage News Daily
Home prices continued climbing in August, with the national index rising 2.4% annually—a modest improvement from the previous month. The gains vary significantly by region, so your local market may tell a different story than the national average.
| Key takeaway: overall appreciation remains slow by historical standards, but where you live matters more than ever right now. |
Read full article →
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Mortgage News Daily
The resale market continues to tread water, with existing home sales essentially flat since late 2023 after their sharp drop from the pandemic peak. This prolonged plateau suggests the market has settled into a new normal rather than bouncing back to pre-2022 levels.
| Key takeaway: if you're planning to sell, don't expect a sudden surge in buyer demand—the market remains a slower, more deliberate one than it was a few years ago. |
Read full article →
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Mortgage News Daily
New home sales stayed relatively flat in September at an annual pace of 676,000 units, maintaining the slight rebound from August. Inventory of new homes for sale slipped to 476,000 units, continuing a trend of tight supply in the new construction market.
| Key takeaway: new home options remain scarce, which gives builders pricing power and limits your choices if you're considering a newly built 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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