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Mortgage Market Update
My Mortgage Company
Luke Morris
Friday, November 6, 2026
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Fixed or adjustable—what's the real difference |
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A lot of borrowers know they want a mortgage, but aren't always clear on the options that exist. Here's what you should know.
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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 makes sense for you
One of the biggest decisions when getting a mortgage isn't about the lender—it's about the loan structure itself. A fixed-rate mortgage locks in your interest rate for the entire loan term, so your payment never changes. An adjustable-rate mortgage starts lower but can move up or down over time, which means your payment can too. Fixed rates give you predictability and peace of mind; adjustable rates can offer flexibility and initial savings if you're planning to move or refinance down the road. Your choice depends on your timeline, risk tolerance, and how long you plan to stay in the home. I'd love to walk through which option fits your situation best. Let's talk about what loan structure makes the most 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
Luke Morris
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