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Mortgage Market Update
Eddie Gamez
Edge Home Finance LLC
Friday, November 6, 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 4, 2026
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Conventional 30-Year
7.12%
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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
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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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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