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Mortgage Market Update
The Dendy Team
The Dendy Team
Friday, November 6, 2026
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Builder confidence drops to 14-year low |
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This week we're looking at what's really happening in the housing market right now—the good news about new home sales, and some tough truths about builder confidence and construction activity. Here's what matters for your wallet.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
6.62%
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Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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 neighbor's mortgage deal might not be yours
One of the biggest misconceptions I run into is that mortgage programs are one-size-fits-all. They're not. Your credit profile, income stability, down payment size, and how long you plan to stay in a home all shape which loan programs actually make sense for you. Someone with strong credit and a solid down payment may qualify for options that aren't available to someone earlier in their financial journey—and vice versa. The program that works beautifully for your neighbor could carry trade-offs that don't align with your situation. That's why it pays to have a real conversation about what you're working with, not just what you're hearing from someone else's story.
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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
New home sales stayed nearly flat month-over-month in September, holding at an annual pace of 676,000 units. This continues the modest rebound we saw in August and suggests buyer interest in new construction remains relatively stable, even as the broader market navigates higher mortgage rates.
| Key takeaway: Stability in new home sales is encouraging—it means builders still have demand, which could help keep new inventory flowing. |
Read full article →
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Mortgage News Daily
Home price appreciation picked up slightly in August, with the FHFA House Price Index rising 0.3% from July and posting annual gains of 2.4%. The good news is appreciation is moving in the right direction, though the improvement is gradual and varies significantly by region.
| Key takeaway: Slower price growth is actually a relief for buyers after years of dramatic appreciation—it gives you more time to save and makes affordability less stressful. |
Read full article →
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Mortgage News Daily
September saw a dip in housing starts and a pullback in single-family building permits, though total permits stayed relatively flat and completions edged higher. The data points to weakness in new construction, particularly for single-family homes, even as builders continue filing plans.
| Key takeaway: Fewer homes being built right now could mean less new inventory coming to market, which may tighten supply for buyers down the road. |
Read full article →
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Mortgage News Daily
The National Association of Home Builders' confidence index fell to 29 in October, its weakest level since 2012. Higher mortgage rates, rising construction costs, and ongoing labor shortages are weighing heavily on builders' outlook, with buyer traffic showing the steepest decline.
| Key takeaway: Low builder confidence often leads to fewer new construction projects starting, which can reduce housing supply and potentially support prices in your favor. |
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 The Dendy Team team any time and we'll walk you through your options. |
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230 Franklin Road, Bldg 2, Franklin, Tennessee, 37064
6154996335 | michaeldendy.com
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