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Mortgage Market Update
My Mortgage Company
Mortgage Biz
Friday, November 6, 2026
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Fixed or adjustable: which fits your plan? |
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Hi there. This week I want to talk about one of the most overlooked parts of choosing a mortgage—not just the rate itself, but the type of rate that works best for your life.
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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
Choosing between fixed and adjustable rates
One of the biggest decisions in a mortgage is whether to lock in a fixed rate for the life of your loan or start with a lower adjustable rate that can change over time. Fixed rates offer predictability—your payment stays the same from day one to payoff. Adjustable rates typically start lower, which can mean lower early payments, but they carry the risk that your rate will adjust upward later. The right choice depends on how long you plan to stay in your home, your comfort with payment uncertainty, and what the rate environment looks like right now. There's no universally "best" option—it's about what fits your situation and your peace of mind. If you'd like to talk through which structure makes sense for your timeline and goals, I'm here to walk you through the trade-offs.
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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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Your Mortgage Advisor
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My Mortgage Company
Mortgage Biz
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