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Mortgage Market Update
Jeff Naylor
Naylor Home Loans powered by Barrett Financial Group
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 from the construction side of the market. We're breaking down what's happening and why it might affect your home search or refinance plans.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.18%
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Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey
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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Affordability Math
When a rate move actually changes your budget
Here's something I see confuse a lot of people: they think a small rate change doesn't matter much. But even a modest move in rates can shift your monthly payment in ways that affect whether a home is truly affordable for you. If you're already stretched thin on your budget, or if you're trying to qualify for a larger loan, those swings add up fast. The reverse is also true—when rates move in your favor, it can suddenly open doors that were closed before. Understanding how this works helps you time your move smarter and know exactly what you can actually afford, not just what a calculator says you can technically carry.
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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, marking its weakest reading in 14 years. Higher mortgage rates, rising construction costs, and labor shortages are squeezing builders hard, with buyer interest especially soft right now. This slowdown could eventually mean fewer new homes on the market, which may keep pressure on prices.
| Key takeaway: fewer builders breaking ground today likely means tighter new-home inventory tomorrow, which could support prices but limit your selection. |
Read full article →
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Mortgage News Daily
September brought weakness across new construction, with housing starts falling and single-family building permits pulling back. This follows the broader pattern of slowdown in residential building activity over recent months. The data suggests builders are hitting the brakes amid challenging conditions.
| Key takeaway: the slowdown in new construction is real and ongoing, which reinforces why the existing-home market remains competitive. |
Read full article →
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Mortgage News Daily
Home prices edged up 0.3% from July to August, with annual appreciation now at 2.4% according to the FHFA House Price Index. Growth varies widely by region, ranging from 0.5% to 4.4% depending on where you live. Overall, appreciation is modest by historical standards.
| Key takeaway: prices are still climbing nationally, but the pace remains gentle compared to the explosive years of 2021 and 2022. |
Read full article →
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Mortgage News Daily
New residential sales held relatively steady in September, declining just 0.6% from August at an annual pace of 676,000 units. While the market remains sideways, the small dip shows resilience rather than collapse. Inventory of new homes for sale continues to sit at lower levels.
| Key takeaway: new home sales aren't booming, but they're not crashing either—suggesting a modest but stable market for builders and buyers alike. |
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 Jeff Naylor team any time and we'll walk you through your options. |
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4800 NW Camas Meadows Drive Ste 260, Camas, WA 98607
503-358-6551 | www.naylorhomeloans.com
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