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Mortgage Market Update
My Mortgage Company
Mckell Mendenhall
Friday, November 6, 2026
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Fixed or adjustable—which one fits you? |
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There are more ways to structure a mortgage than most people realize. Understanding your options makes a real difference in finding the right loan for your goals.
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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 Program Basics
Fixed vs. adjustable: which fits your plan?
One of the first choices you'll make is whether to lock in a fixed rate for the life of your loan or start with an adjustable rate that can move over time. Fixed rates offer predictability—your payment stays the same. Adjustable rates often begin lower, which can make early years more affordable, but they come with the reality that payments may increase later. There's no universally 'right' answer; it depends on how long you plan to stay in the home, how comfortable you are with payment uncertainty, and what makes sense for your budget. I help clients think through this decision based on their actual timeline and tolerance for change, not on rate predictions nobody can make. It's worth having a real conversation about which structure aligns with your life. Let's talk through which loan structure might work best for your situation.
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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
Mckell Mendenhall
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