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Mortgage Market Update
Angela Carter
Edge Home Finance
Monday, October 26, 2026
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Which mortgage type is right for you? |
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A lot of borrowers pick a loan program without really understanding what it does. Let me break it down in a way that actually matters to your finances.
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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 Programs
What your loan type actually does for you
When we talk about your mortgage, we're really talking about the structure underneath it — and that structure matters more than most people realize. Different loan programs (fixed-rate, adjustable-rate, FHA, conventional, and others) come with different trade-offs built in. One might lock in your payment forever. Another might start lower but change over time. Some make sense if you're staying put for decades; others work better if you plan to move or refinance down the road. The right program for you depends on your timeline, risk tolerance, and financial goals — not on what your neighbor chose. I'd be happy to walk you through how each type works and which one actually fits your situation. Let's talk about which loan structure makes the most sense for where you are right now.
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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 Angela Carter team any time and we'll walk you through your options. |
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972-900-2134 | www.AngieKnowsLoans.com
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