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Mortgage Market Update
Mike Gurley
Mike Gurley
Wednesday, October 21, 2026
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Why builders are pulling back (and what it means for you) |
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This week we're looking at some sobering signals from the construction side of the market, plus what's actually happening with home prices and sales. Here's what homebuyers need to know.
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National Mortgage Rates · October 20, 2026
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Conventional 30-Year
7.33%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates 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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Equity & Access
What your home equity can do for you
If you've been paying your mortgage for a few years, you likely have equity built up—the difference between what your home is worth and what you owe. That equity isn't just a number on paper. It can be a financial tool when you need it. Whether you're thinking about renovating, consolidating debt, or handling an unexpected expense, a home equity loan or line of credit lets you tap into that value at rates that are often better than credit cards or personal loans. The right move depends on your situation and goals. I'd like to walk you through how this works and whether it makes sense for you.
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Tip of the Week
Your loan officer can run a credit simulator to show exactly which actions will move your score the most.
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Tips for Homeowners
Year-End Tax & Mortgage Planning
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1.
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Consider making your January mortgage payment in December to get an extra month of deductible interest in the current tax year (consult your tax advisor first).
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If you plan to sell next year, now is a good time to document improvements — receipts and records add to your cost basis and reduce taxable capital gain at sale.
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Review your W-4 withholding if you bought a home this year — your mortgage interest deduction may mean you're having too much withheld from each paycheck.
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Mortgage News Daily
Home builders are losing confidence fast. Higher mortgage rates, rising construction costs, and labor shortages are making it harder and more expensive to build new homes. This matters to you because fewer new homes coming to market could keep downward pressure off prices — but it also means less inventory for buyers to choose from.
| Key takeaway: If you've been waiting for a wider selection of new homes at lower prices, the builder slowdown suggests that may not happen soon. |
Read full article →
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HousingWire
Click the link below to read the full article.
| Key takeaway: Until rates come down, a cheaper home doesn't necessarily mean an affordable one. |
Read full article →
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HousingWire
A new executive order draft is targeting several ways to reduce borrowing costs for homebuyers and homeowners, including mortgage insurance reform, better refinance options, and help for manufactured housing buyers. This signals real attention to the affordability crisis that's been holding back the housing market.
| Key takeaway: Policy changes aimed at mortgage insurance and refinancing could put money back in your pocket if they move forward. |
Read full article →
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Mortgage News Daily
Signed contracts on existing homes ticked up slightly in August, with strength in the South and West outweighing weakness in other regions. While still below last year's pace, the modest gain shows some buyers are still moving forward despite elevated rates.
| Key takeaway: Regional differences are widening — where you live increasingly affects your buying window and negotiating power. |
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 Mike Gurley team any time and we'll walk you through your options. |
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