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Mortgage Market Update
Trey Camp
Edge Home Finance LLC
Saturday, October 31, 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 direction, along with a few bright spots on the sales front. Here's what matters for your wallet and your timeline.
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Loan Programs
Not all mortgages work the same way
When you're shopping for a home or thinking about refinancing, the interest rate gets most of the attention. But the loan program itself—the structure and terms—matters just as much to your bottom line. Different programs have different rules about down payments, credit requirements, how long you have to repay, and what happens if rates move. Some programs are designed for first-time buyers. Others reward people with solid equity. Some lock in your rate and payment forever; others adjust over time. The right program for your neighbor might not be the right one for you. That's why it's worth having a real conversation about which option actually fits your situation and goals, not just which one sounds cheapest today.
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Tip of the Week
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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Mortgage News Daily
The National Association of Home Builders reported their confidence index dropped to 29 in October—the weakest reading in 14 years. Builders are struggling with higher mortgage rates, rising construction costs, labor shortages, and a shortage of available lots. This slowdown could eventually tighten the supply of new homes available for sale.
| Key takeaway: fewer new homes coming to market may support prices in the near term, but it also means less inventory for buyers to choose from. |
Read full article →
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Mortgage News Daily
New home sales barely budged in September, staying roughly flat from August at an annual pace of 676,000 homes. While this shows resilience, the broader trend over the past three years has been sideways—no real growth, but no major collapse either. Inventory of new homes for sale currently sits at 476,000 units.
| Key takeaway: the new home market remains stable but sluggish, giving buyers some negotiating room if you're shopping for new construction. |
Read full article →
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Mortgage News Daily
Home prices rose 0.3% from July to August according to the FHFA House Price Index, bringing annual appreciation to 2.4%. The gains remain modest by historical standards, and different regions are seeing very different results—appreciation ranges from 0.5% annually in the Mountain division to 4.4% elsewhere. The picture is uneven depending on where you live.
| Key takeaway: national price growth is steady but mild, though your local market may tell a very different story. |
Read full article →
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Mortgage News Daily
Existing home sales edged higher in September, but the overall market remains essentially flat. After dropping sharply from 2022 through late 2023, sales have settled around 4 million units per year with little movement since then. The market has lost the momentum it once had and shows no signs of a strong rebound.
| Key takeaway: a stalled market can work in a buyer's favor if you're patient—less competition for homes, but also fewer options available. |
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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