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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 from the construction side of housing, along with mixed signals on home prices and sales. Here's what matters for your wallet and your timeline.
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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
Home builder confidence dropped sharply in October, hitting its weakest level in 14 years. The pullback reflects ongoing pressures from higher mortgage rates, rising construction costs, and a shortage of available labor and buildable lots. When builders lose confidence, it typically means fewer new homes hitting the market, which can affect your choices and pricing in coming months.
| Key takeaway: Tighter inventory of new homes could support prices in your area, but you'll have fewer options to choose from. |
Read full article →
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Mortgage News Daily
New home sales remained essentially flat in September compared to August, continuing a pattern of sideways movement that's lasted nearly three years. While the market isn't falling apart, it's also not accelerating, suggesting cautious buyer interest and a lack of urgency on either side of the transaction.
| Key takeaway: Slow, steady conditions mean this isn't a rush market—take your time with any major decisions. |
Read full article →
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Mortgage News Daily
Home prices edged up slightly in August, with the federal housing price index showing just 0.3% growth month-over-month and 2.4% annually. Gains continue to vary widely by region, with some areas seeing stronger appreciation while others have barely budged.
| Key takeaway: Where you buy matters more than ever—some neighborhoods are appreciating while others stay flat. |
Read full article →
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Mortgage News Daily
After a sharp drop from 2022 through early 2023, existing home sales have flatlined around 4 million units annually with little sign of life returning. September's slight uptick doesn't change the bigger picture: the market is stuck in a holding pattern.
| Key takeaway: Stalled sales activity means less competition when you do decide to buy or sell. |
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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