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Mortgage Market Update
The Dendy Team
The Dendy Team
Tuesday, October 27, 2026
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Builder confidence drops to 14-year low—what it means for you |
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This week brought some sobering signals about the housing market's near-term health. We're breaking down what's happening and why it matters for your home plans.
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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
Test your sump pump before the rainy season by pouring water into the pit — a failed pump can lead to serious basement flooding.
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Tips for Homeowners
Rate Lock Strategy: When and How Long to Lock
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1.
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A rate lock guarantees your interest rate for a set period — typically 30, 45, or 60 days. Longer locks cost more but protect you if the process takes longer than expected.
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2.
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Lock when you're under contract and confident the deal will close. Don't lock before you have a signed purchase agreement — you're paying for protection you may not need.
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3.
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If rates drop after you lock, ask your lender about a float-down option. Some lenders offer this for a fee, allowing you to take advantage of a lower rate if the market moves in your favor.
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Mortgage News Daily
Builders' confidence in the housing market just dropped to its worst level in 14 years, driven by higher mortgage rates, rising construction costs, and a shortage of available land and workers. Fewer potential buyers are walking into model homes, which suggests people are holding back on the idea of buying new construction right now.
| Key takeaway: if you're considering a new home purchase, this slowdown might actually give you more negotiating power with builders who are eager to move inventory. |
Read full article →
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Mortgage News Daily
Housing starts and building permits both declined in September, with single-family construction showing particular weakness. This points to a slowdown in the pipeline of new homes coming to market, which could eventually affect availability and pricing.
| Key takeaway: fewer new homes being built now could mean tighter inventory later, so if you're planning to buy, timing matters. |
Read full article →
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Mortgage News Daily
Home prices picked up modest momentum this summer compared to earlier in the year, though the gains remain modest by historical standards. The story varies significantly by region—some markets are appreciating faster than others.
| Key takeaway: if you're thinking about refinancing or selling, check your local market specifically rather than assuming national trends apply to your area. |
Read full article →
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HousingWire
The USDA has expanded a pilot program that streamlines approvals for rural mortgages backed by its 90% guarantee, working with six participating lenders to speed up the process. This could mean faster closings and better access for rural homebuyers.
| Key takeaway: if you're looking to buy in a rural area and haven't explored USDA loan options, this expansion might make the process smoother and more affordable. |
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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