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Mortgage Market Update
My Mortgage Company
Justin Connolly
Friday, November 6, 2026
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Fixed or adjustable—what's the difference? |
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I get asked this question regularly, and the answer matters more than you might think. Here's what you need to know about your rate options.
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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 or thinking about refinancing, one of the biggest choices is whether to lock in a fixed rate or consider an adjustable one. A fixed rate stays the same for the life of your loan—predictable, stable, peace of mind. An adjustable rate may start lower, but it can move over time, which means your payment could change. The right choice depends on how long you plan to stay in your home, how comfortable you are with payment uncertainty, and what the current rate environment looks like. There's no universal "best" answer, but there's definitely a best answer for your situation. I'd like to walk you through what each option really means for your budget and your future. Let's talk through which loan type makes sense for your timeline and comfort level.
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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
Justin Connolly
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