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Mortgage Market Update
My Mortgage Company
Nick Robertson
Friday, November 6, 2026
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Fixed or adjustable: which one fits you |
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When you're shopping for a mortgage, loan type matters as much as rate. This week I want to walk you through one of the most important choices you'll make.
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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 Program Basics
Fixed vs. adjustable: what actually changes
One of the biggest choices in a mortgage is whether to lock in a rate for the full loan term or accept a rate that can move over time. A fixed-rate mortgage gives you predictability—your rate and payment stay the same for 15, 20, or 30 years. An adjustable-rate mortgage typically starts lower but can increase after an initial period, which means your payment could go up. Neither is universally "better"—it depends on how long you plan to stay in the home, your comfort with payment uncertainty, and where rates are headed. Understanding the difference helps you pick the option that actually fits your situation, not just the lowest starting number. Let's talk through which structure makes 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
Nick Robertson
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