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Mortgage Market Update
The Dendy Team
The Dendy Team
Saturday, October 31, 2026
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Builder confidence drops to 14-year low |
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We're watching some important shifts in the housing market this week. Here's what homebuyers and sellers need to know about what's happening right now.
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National Mortgage Rates · October 29, 2026
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Conventional 30-Year
6.65%
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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 feeling increasingly pessimistic about the market, with the industry's confidence index dropping to its lowest point since 2012. The main culprits are familiar ones: higher mortgage rates, rising construction costs, and challenges finding workers and available land. This kind of builder anxiety can eventually affect how many homes get built and listed for sale.
| Key takeaway: when builders pull back, new home inventory typically tightens, which could mean less choice and more competition for buyers in the months ahead. |
Read full article →
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Mortgage News Daily
New home sales remained nearly flat month over month, holding at an annual pace of about 676,000 units. While this shows the market didn't lose ground, it also highlights how sideways the new construction market has been for the past three years. The supply of new homes available for sale continues to be limited.
| Key takeaway: stable sales are good news, but the lack of new inventory means buyers still don't have many fresh options to choose from. |
Read full article →
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Mortgage News Daily
Home price appreciation ticked up slightly in August, with the national index rising 0.3% from the prior month and showing annual appreciation of 2.4%. However, gains remain uneven across different regions—some areas are seeing prices barely budge while others are moving up faster. It's a reminder that real estate remains very much a local story.
| Key takeaway: modest national price gains mask big differences by region, so what's happening in your specific market matters more than the headline number. |
Read full article →
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Mortgage News Daily
September construction data came in weaker than hoped, with housing starts declining and single-family building permits pulling back. While total permits stayed relatively flat and completions edged higher, the overall trend points to softness in new construction, especially for single-family homes. This reflects the challenges builders are facing right now.
| Key takeaway: slower new construction and fewer permits suggest the pipeline of new homes hitting the market will remain tight in coming quarters. |
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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