Mortgage Market Update

CJ Cunningham

Friday, November 6, 2026

Fixed or adjustable: what's the difference?

Choosing a loan type involves more than just picking a rate. I want to break down one of the most important decisions you'll make when financing a home.

National Mortgage Rates · November 5, 2026

Conventional 30-Year

7.18%

FHA 30-Year

6.90%

VA 30-Year

6.76%

Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey

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.

Loan Program Options

Fixed vs. adjustable: which fits your plan?

One of the biggest choices in getting a mortgage is whether you want your rate to stay the same for the entire loan, or start lower and adjust over time. A fixed-rate loan gives you payment predictability—you know exactly what you owe every month for 15, 20, or 30 years. An adjustable-rate mortgage typically starts at a lower rate, which can mean lower payments early on, but that rate can change after an initial period, so your payment may go up later. Neither is universally "better"—it depends on how long you plan to stay in the home, how comfortable you are with uncertainty, and what the current market looks like. The right choice is personal to your situation and your peace of mind.

Let's talk through which structure makes sense for your goals.

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.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.	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.

2.	Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the CJ Cunningham team any time and we'll walk you through your options.

Your Mortgage Advisor

CJ Cunningham

cj@barrettfinancial.com

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