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Mortgage Market Update
The Dendy Team
The Dendy Team
Friday, October 30, 2026
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Why builders are so discouraged right now |
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This week we're looking at what's really happening in housing—from new construction to home prices to the sales market. Here's what matters for your wallet.
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National Mortgage Rates · October 28, 2026
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Conventional 30-Year
6.72%
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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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Home Equity
Your home might be worth more than you think
If you've owned your home for a few years, chances are you've built equity—maybe more than you realize. Equity is the difference between what your home is worth today and what you still owe on the mortgage. As home values shift and you make monthly payments, that gap grows. Knowing your equity matters because it opens doors: you might qualify for a cash-out refinance, a home equity line of credit, or other options if you need funds for repairs, education, or life. The first step is simple—let's talk about what your home is likely worth now and what that means for your situation.
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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
Home builders are more pessimistic now than they've been since 2012, according to the National Association of Home Builders. Higher mortgage rates, rising construction costs, and labor shortages are squeezing their ability to build, which means fewer new homes on the market for buyers to choose from.
| Key takeaway: Tight supply from discouraged builders could continue supporting home prices, but it also means less inventory for buyers to shop from. |
Read full article →
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Mortgage News Daily
Housing starts and single-family building permits both declined in September, signaling that builders are pumping the brakes. While total building permits stayed relatively flat and completions ticked up slightly, the weakness in new construction is real.
| Key takeaway: Slower new construction adds to the inventory shortage that's already keeping home prices elevated. |
Read full article →
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Mortgage News Daily
Both major home price indices showed modest gains in July, with national prices still moving higher year-over-year. The increases are small by historical standards, but they keep the affordability challenge real for buyers.
| Key takeaway: Price gains are slowing compared to pandemic levels, but homes aren't getting noticeably cheaper in most markets. |
Read full article →
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Mortgage News Daily
After dropping sharply from 2022 through early 2023, existing home sales have basically flatlined. The latest September numbers show a small uptick, but the overall market remains sluggish compared to the pre-pandemic years.
| Key takeaway: Flat sales activity suggests buyers and sellers are both waiting—a sign that the market is searching for a new normal. |
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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