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Mortgage Market Update
My Mortgage Company
Home Smart - Surpise
Friday, November 6, 2026
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Fixed rate or adjustable—which fits you? |
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One of the biggest decisions in a mortgage isn't always top-of-mind when borrowers are shopping. This week, let's cover the fundamental choice between loan types and why it matters to your long-term plan.
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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. ARM: which loan type fits your plan?
When you're shopping for a mortgage, one of the biggest choices is whether to lock in a fixed rate for the life of your loan or start with an adjustable rate that can change over time. A fixed-rate mortgage gives you payment stability and peace of mind—you always know what you owe each month. An ARM typically starts lower but can adjust after an initial period, which works well if you plan to sell or refinance before rates reset. The right choice depends on your timeline, risk tolerance, and how long you see yourself in the home. I'd be happy to walk you through how each works and which might align better with your situation. Let's talk through which loan structure makes the most sense for your goals.
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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
Home Smart - Surpise
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