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Mortgage Market Update
Trey Camp
Edge Home Finance LLC
Friday, November 6, 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 signals from the construction sector, along with encouraging signs from the sales front. Here's what matters for your home plans.
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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
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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Mortgage News Daily
The National Association of Home Builders' confidence index fell to 29 in October—its worst reading in 14 years. Builders cite higher mortgage rates, rising construction costs, and labor shortages as the main culprits, with prospective buyer traffic taking the biggest hit. This explains why new home inventories remain tight and prices haven't come down much, even as affordability pressures linger.
| Key takeaway: if you're waiting for a flood of new construction to ease competition and lower prices, don't hold your breath—builders are pulling back, not ramping up. |
Read full article →
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Mortgage News Daily
New home sales remained resilient last month, falling just 0.6% from August at an annual pace of 676,000 units. This reinforces a rebound that started in August and suggests buyers are still showing up despite affordability challenges. While the trend over the past three years has been sideways, the stability is noteworthy in a volatile market.
| Key takeaway: the new home market isn't booming, but it's not collapsing either—which means inventory and pricing remain constrained for buyers. |
Read full article →
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Mortgage News Daily
Home prices rose 0.3% from July to August, with annual appreciation now at 2.4% according to the Federal Housing Finance Agency. The gains are modest by historical standards, though regional variation is stark, ranging from 0.5% annual appreciation in the Mountain states to 4.4% elsewhere. After inflation adjustments, the real gains look even thinner.
| Key takeaway: home prices are still moving up, but slowly and unevenly—meaning the timing and location of your purchase still matter a lot. |
Read full article →
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Mortgage News Daily
Existing home sales have essentially flatlined since late 2023, hovering around 4 million units annually after a sharp drop from over 6 million in 2022. September's slight uptick doesn't change the bigger story: the market hit a wall and stayed there. This lack of inventory movement continues to keep prices elevated and buyer options limited.
| Key takeaway: don't expect a sudden rush of resale homes to hit the market—the slow-moving inventory is here to stay for now. |
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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