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Mortgage Market Update
Evelyn Morgan
Keyway Lending powered by Edge Home Finance
Monday, October 26, 2026
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What type of loan actually works for you |
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Every borrower's circumstances are different, and there's no one-size-fits-all mortgage. Let me explain why picking the right loan type is one of the most important decisions you'll make.
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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
Why your loan type matters more than you think
Not all mortgages work the same way. A fixed-rate loan locks in your payment forever, which is stable and predictable. An adjustable-rate mortgage might start lower but can change, which appeals to some borrowers in certain situations. Then there are programs designed for specific buyers—VA loans for military, FHA loans for those putting down less, USDA loans in rural areas. The right fit depends on your timeline, risk tolerance, and what you can afford today and tomorrow. If you're uncertain which program makes sense for your goals, I'd like to walk through the options with you. Let's talk about which loan program fits your situation best.
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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 Evelyn Morgan team any time and we'll walk you through your options. |
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