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Mortgage Market Update
My Mortgage Company
Philip Carcel Munce
Friday, November 6, 2026
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What you should know about ARM loans |
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There are more mortgage options out there than most people realize. This week, I'm breaking down one that gets overlooked—and when it might actually be right for you.
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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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ARM vs Fixed
Understanding adjustable-rate mortgages
If you've been shopping for a mortgage lately, you've probably heard about adjustable-rate mortgages (ARMs). They work differently than fixed-rate loans: your interest rate starts lower but can change after an initial period, which means your payment could go up over time. ARMs can make sense for some borrowers—especially those planning to sell or refinance before rates adjust. But they require a honest conversation about your timeline and comfort level with payment uncertainty. Before choosing any loan type, it helps to understand exactly how each one behaves and what risk you're actually taking on. I'm here to walk through the pros and cons with your specific situation in mind. Let's talk through whether an ARM or fixed rate makes more sense for you.
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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
Philip Carcel Munce
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