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Mortgage Market Update
My Mortgage Company
Nick Street - FOR DELETION
Friday, November 6, 2026
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Fixed or adjustable: which works for you? |
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One of the biggest decisions in mortgage shopping isn't about how much to borrow—it's about the structure of your loan itself. Let me break down the main types so you can choose confidently.
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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 Options
Fixed or adjustable: which loan fits your plan?
When you're shopping for a mortgage, one of the biggest choices is whether to lock in a fixed rate for the life of your loan or start with an adjustable rate that changes over time. A fixed-rate mortgage gives you payment stability and peace of mind—your rate and payment never change. An adjustable-rate mortgage typically starts lower, which can mean a smaller payment early on, but it will adjust periodically based on market conditions. The right choice depends on how long you plan to stay in your home, your comfort with payment uncertainty, and your financial goals. If you're staying put for years, fixed often wins. If you're planning to move or refinance sooner, an ARM might make sense. I'd like to walk through both options with you and help you figure out which aligns with your situation. Let's talk through your loan options and find the best fit for your timeline and budget.
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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 Street - FOR DELETION
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