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Mortgage Market Update
My Mortgage Company
Kevin Fugit
Friday, November 6, 2026
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Fixed or adjustable: what's the difference? |
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Understanding your mortgage options can feel overwhelming, but breaking it down into simple choices makes it much easier. This week, let's talk about the two main loan types and how to think about which one works for you.
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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: which loan type fits you?
When you're shopping for a mortgage, one of the biggest decisions is whether to lock in a fixed rate for the life of your loan or start with an adjustable rate that can change over time. A fixed-rate mortgage gives you predictability—your payment stays the same month after month, year after year. An adjustable-rate mortgage typically starts lower but can move up (or down) after an initial period, which means your payment could change. The right choice depends on how long you plan to stay in your home, your comfort with payment uncertainty, and where rates stand right now. I'd be happy to walk through both options with you and help you figure out which one makes sense for your goals. Let's talk through your loan options—reach out anytime.
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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
Kevin Fugit
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