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Mortgage Market Update
Eddie Gamez
Edge Home Finance LLC
Tuesday, November 3, 2026
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Picking the right mortgage for your life |
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Hi there. This week I want to walk through something borrowers often overlook: how much your loan type actually shapes your financial picture.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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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
The right loan type for your situation
Not all mortgages work the same way, and that matters more than most people realize. Some borrowers benefit from fixed rates that lock in predictability; others find adjustable options make sense early on. First-time buyers often qualify for programs they don't know exist. Homeowners with substantial equity have refinancing choices that renters don't. The point: your financial picture is unique, and a loan program that works great for your neighbor might not be your best move. That's why I spend time understanding what you actually need—not just what sounds trendy. If you've never mapped out which program type fits your goals and timeline, it's worth an honest conversation.
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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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