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Mortgage Market Update
My Mortgage Company
JAG
Friday, November 6, 2026
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Fixed or adjustable—which fits you? |
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Hi there. This week I'm covering a choice that matters more than most borrowers realize when they're applying for a loan.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.18%
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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.
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Loan Programs
Fixed vs. adjustable: which fits your plan?
When you're shopping for a mortgage, the type of rate you choose shapes your entire financial picture. A fixed-rate loan keeps the same interest rate for the life of the loan—steady payments, no surprises. An adjustable-rate mortgage starts lower but can change after an initial period, which means your payment might move too. Neither is right or wrong; it depends on how long you plan to stay in your home, your comfort with payment changes, and your overall financial goals. I find that most people sleep better with predictability, but some borrowers thrive with the flexibility an ARM offers. The key is understanding which aligns with your situation before you commit. Let's talk through which option makes the most sense for your timeline and peace of mind.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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