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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 news about the housing market's near-term outlook. We've broken down the stories that actually matter to your wallet and your home search.
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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
Homebuilder confidence dropped sharply in October to its lowest point since 2012, driven by higher mortgage rates, rising construction costs, and labor shortages. This affects you because lower builder confidence typically means fewer new homes coming to market, tighter inventory, and potentially less negotiating power for buyers shopping for new construction.
| Key takeaway: if you're considering a new home purchase, expect fewer options and potentially less flexibility from builders over the coming months. |
Read full article →
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Mortgage News Daily
New home sales remained essentially flat in September, holding near the 676,000 annual pace, though the inventory of new homes for sale continues to tighten. This steadiness is a bit surprising given the headwinds builders are facing, but the shrinking selection means shoppers should act sooner rather than later if new construction appeals to them.
| Key takeaway: new homes aren't disappearing from the market yet, but the selection is getting slimmer—timing matters if new construction is on your radar. |
Read full article →
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Mortgage News Daily
September saw weakness across new construction, with housing starts declining and single-family building permits pulling back, even though total permits held relatively steady. The slowdown is particularly visible in single-family homes, which is what most buyers care about.
| Key takeaway: the new-home pipeline is weakening, which could mean less inventory and potentially higher prices for new construction down the road. |
Read full article →
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Mortgage News Daily
Home price appreciation continued its slow climb in August, rising just 0.3% month over month with annual appreciation at 2.4%. The gains vary significantly by region—some areas are appreciating much faster than others—so location matters now more than ever.
| Key takeaway: home prices aren't surging, but they're still moving higher, so the cost of waiting needs to be weighed against the rates you'd be locking in today. |
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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