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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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The housing market is sending mixed signals this week. We've pulled together the stories that actually matter to your wallet—from builder confidence hitting a 3-year low to why lower prices still aren't bringing buyers back.
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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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2.
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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 getting nervous. Higher mortgage rates, rising construction costs, and labor shortages have pushed builder sentiment to its lowest point in over three years. If builders are hesitant to build, that could mean fewer new homes on the market down the road—which matters whether you're buying now or planning to sell later.
| Key takeaway: Tighter new construction could eventually support home values, but it also means less inventory and potentially higher prices if demand stays strong. |
Read full article →
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HousingWire
Click the link below to read the full article.
| Key takeaway: A lower sticker price doesn't help much if the monthly payment is still out of reach. |
Read full article →
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HousingWire
A new executive order is being drafted to tackle mortgage affordability through several policy levers: mortgage insurance, manufactured housing, and refinancing costs. While details are still developing, the focus is on making homeownership and refinancing more accessible to everyday buyers.
| Key takeaway: Policy changes aimed at mortgage insurance and refinance options could put real money back in your pocket if they move forward. |
Read full article →
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Mortgage News Daily
Home prices picked up momentum in July with stronger annual appreciation than earlier in the year, according to major price indices. But here's the catch: the gains look less impressive once you account for inflation, and they're still mild by historical standards. Some areas are appreciating faster than others.
| Key takeaway: National price growth is real but modest, so the value of your home improvement and maintenance efforts will vary significantly by region. |
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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