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Mortgage Market Update
Eddie Gamez
Edge Home Finance LLC
Saturday, October 31, 2026
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Why your loan type matters more than you think |
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Hi there. This week I want to touch on something that doesn't always get the attention it deserves: the type of loan you choose.
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National Mortgage Rates · October 29, 2026
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Conventional 30-Year
7.15%
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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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Loan Program Fit
What your loan type really costs you
Not all mortgages are built the same, and the loan program you choose affects far more than just your interest rate. Different structures—fixed versus adjustable, conventional versus government-backed—carry different trade-offs in what you pay upfront, what you pay over time, and how much flexibility you have down the road. Some borrowers benefit from one path; others do better with another. The key is understanding what you're actually signing up for, not just chasing the lowest number you see. I'm here to walk you through how each option works and which one aligns with your situation and goals.
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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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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Eddie Gamez team any time and we'll walk you through your options. |
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915-706-0950
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