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Mortgage Market Update
The Dendy Team
The Dendy Team
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, but don't worry—we're breaking down what's really happening and what it means for your wallet. Here are the stories that matter most to you.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
6.63%
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Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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 neighbor's mortgage deal might not be yours
One of the biggest misconceptions I run into is that mortgage programs are one-size-fits-all. They're not. Your credit profile, income stability, down payment size, and how long you plan to stay in a home all shape which loan programs actually make sense for you. Someone with strong credit and a solid down payment may qualify for options that aren't available to someone earlier in their financial journey—and vice versa. The program that works beautifully for your neighbor could carry trade-offs that don't align with your situation. That's why it pays to have a real conversation about what you're working with, not just what you're hearing from someone else's story.
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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
Homebuilder confidence dropped to its lowest point since 2012, driven by high mortgage rates, construction costs, and labor shortages. Fewer prospective buyers are walking through new homes, which signals builders are struggling to find customers willing to buy at current prices.
| Key takeaway: If you're shopping for a new home, builders' desperation to move inventory could create room to negotiate on price or upgrades. |
Read full article →
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Mortgage News Daily
The housing market showed resilience in September, with new home sales holding nearly flat from August's rebound. Sales hit an annual pace of 676,000 units, suggesting buyers are still engaged despite the economic headwinds.
| Key takeaway: The market is neither booming nor collapsing—it's in a holding pattern, which means no rush to buy or sell unless your personal situation demands it. |
Read full article →
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Mortgage News Daily
Home price appreciation accelerated slightly in August, with the FHFA index rising 0.3% month over month and 2.4% over the year. The gains varied significantly by region, which means some markets are warming faster than others.
| Key takeaway: If you're thinking about selling, check your specific region—appreciation rates differ widely, so local market conditions matter more than the national average. |
Read full article →
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Mortgage News Daily
Housing starts and single-family building permits both pulled back in September, signaling that builders are tightening their belts amid cost pressures and buyer uncertainty. This slowdown typically leads to fewer homes hitting the market in coming months.
| Key takeaway: If inventory has been tight in your area, don't expect a flood of new homes anytime soon—supply constraints could persist for a while. |
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 The Dendy Team team any time and we'll walk you through your options. |
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230 Franklin Road, Bldg 2, Franklin, Tennessee, 37064
6154996335 | michaeldendy.com
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