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Mortgage Market Update
My Mortgage Company
Erica Portillo-Nuno
Friday, November 6, 2026
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Fixed or adjustable—what's right for you? |
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Not all mortgages work the same way. This week I want to clear up a decision that matters more than most borrowers realize.
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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, the interest rate gets most of the attention—but the loan type itself matters just as much. A fixed-rate mortgage keeps the same rate and payment for the life of the loan, which makes budgeting predictable. An adjustable-rate mortgage may start lower but can change after an initial period, which works better if you plan to move or refinance before that adjustment happens. There's no universally right answer; it depends on your timeline, risk tolerance, and how long you see yourself in the home. I'm happy to walk through how each would look for your situation so you can make a choice that actually fits your life. Let's talk through which loan structure makes sense for you.
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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
Erica Portillo-Nuno
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