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Mortgage Market Update
Eddie Gamez
Edge Home Finance LLC
Monday, October 26, 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
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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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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