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Mortgage Market Update
Jon Taw
Edge Home Finance
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 health. We're breaking down what builders are seeing and how it could affect your home-buying plans.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.18%
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%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%230F4A2E%22%2C%22borderWidth%22%3A2%7D%5D%7D%2C%22options%22%3A%7B%22plugins%22%3A%7B%22legend%22%3A%7B%22display%22%3Afalse%7D%7D%2C%22scales%22%3A%7B%22y%22%3A%7B%22ticks%22%3A%7B%22callback%22%3A%22function(v)%7Breturn%20v%2B%5C%22%25%5C%22%7D%22%2C%22color%22%3A%22%23666%22%7D%2C%22grid%22%3A%7B%22color%22%3A%22rgba(0%2C0%2C0%2C0.06)%22%7D%7D%2C%22x%22%3A%7B%22grid%22%3A%7B%22display%22%3Afalse%7D%2C%22ticks%22%3A%7B%22font%22%3A%7B%22size%22%3A11%7D%2C%22color%22%3A%22%23666%22%7D%7D%7D%7D%7D&w=520&h=180&bkg=white&f=12) |
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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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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
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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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 reported their confidence index fell to 29 in October—the weakest reading since 2012. Builders cite higher mortgage rates, rising construction costs, and labor shortages as the main culprits. This slowdown could mean fewer new homes hitting the market in the months ahead.
| Key takeaway: Expect new home inventory to remain tight, which could put upward pressure on prices if demand stays strong. |
Read full article →
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Mortgage News Daily
New home sales held steady in September at a pace of 676,000 annually, staying flat compared to the previous month. While the market hasn't gained much ground, it's at least holding its own after bouncing back in August. The number of new homes available for sale sits at 476,000.
| Key takeaway: Stability is good news after months of volatility, but the market is still treading water rather than moving forward. |
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% nationally according to the FHFA House Price Index. However, gains are spreading unevenly across the country—some regions are seeing prices climb 4.4% annually while others are up just 0.5%. This means your local market's reality may look very different from the national picture.
| Key takeaway: Check your specific region's trends rather than relying on national numbers—your neighborhood's price story may be quite different. |
Read full article →
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Mortgage News Daily
Existing home sales edged higher in September, but that's about all the excitement the market is offering. After dropping sharply from 2022 levels, sales have bounced around near 4 million units annually for over a year with no real momentum. The market is essentially stuck in neutral.
| Key takeaway: If you've been waiting for a breakthrough moment to buy or sell, this sideways market isn't giving you one—focus on your personal timeline instead. |
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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