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Mortgage Market Update
My Mortgage Company
Roy Paeth
Friday, November 6, 2026
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Fixed or adjustable—which one is right for you? |
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Hi there. One of the most important decisions you'll make in a mortgage isn't about interest rates or down payments—it's about the type of loan itself.
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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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Mortgage Basics
Why your loan type matters more than you think
Not all mortgages are built the same. The difference between a fixed-rate loan and an adjustable-rate loan—or between a 15-year and 30-year term—shapes your entire financial picture. A fixed rate keeps your payment stable for decades. An adjustable rate starts lower but can shift over time. A shorter term builds equity faster and costs less in total interest. A longer term spreads payments across more years. There's no single right answer; it depends on your timeline, risk comfort, and cash flow. Most borrowers do best with a fixed rate they can live with long-term, but the best choice for your life is worth exploring before you commit. Let's talk about which loan structure fits your situation.
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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
Roy Paeth
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