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Mortgage Market Update
My Mortgage Company
Craig Scott
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 break down one of the most important decisions you'll make when getting a mortgage—and one that often gets overlooked in all the rate noise.
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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 Programs
Fixed vs. adjustable: which path is right for you
When you're shopping for a mortgage, one of the biggest choices isn't about the lender—it's about the loan structure itself. A fixed-rate mortgage keeps your payment steady for the life of the loan, which gives you predictability and peace of mind. An adjustable-rate mortgage starts lower but can change over time, which appeals to some borrowers who plan to move or refinance before rates shift. Neither is universally "better"—it depends on your timeline, risk tolerance, and how long you see yourself in the home. Understanding the difference helps you make a choice that actually fits your life, not just the moment you're buying. I'd be happy to walk you through both options and help you figure out which structure makes sense for your situation. Let's talk through which loan type aligns best with 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
Craig Scott
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