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Mortgage Market Update
Scott Lepper
Scott Lepper
Friday, November 6, 2026
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Fixed or adjustable—which one fits you? |
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There are more ways to structure a mortgage than most people realize. This week, I want to walk you through one of the most important decisions you'll face.
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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 fits your plan?
One of the biggest decisions you'll make on a mortgage isn't about how much to borrow—it's about how your rate behaves over time. A fixed-rate mortgage keeps the same interest rate for the entire loan, so your principal and interest payment never changes. An adjustable-rate mortgage (ARM) typically starts lower but can move up or down based on market conditions after an initial fixed period. Fixed rates give you predictability and peace of mind. ARMs can work well if you plan to sell or refinance before the rate adjusts, or if you're confident in your budget flexibility. The right choice depends on how long you plan to stay in your home and your comfort with change. Neither option is universally better—it comes down to your situation and what helps you sleep at night. Let's talk through what makes sense for your timeline and 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 Scott Lepper team any time and we'll walk you through your options. |
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