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Mortgage Market Update
My Mortgage Company
Derek Gonnerman
Friday, November 6, 2026
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Fixed or adjustable—which one is right for you? |
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One of the first forks in the road when getting a mortgage is choosing between a fixed rate and an adjustable rate. Both have their place—here's how to know which fits your plans.
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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 Comparison
Fixed vs. adjustable: which loan fits your plan?
When you're shopping for a mortgage, one of the biggest decisions is whether to lock in a fixed rate for the entire loan or start with an adjustable rate. A fixed-rate loan keeps your payment the same from day one through payoff—predictable and stable. An adjustable-rate mortgage often starts lower but can change over time, which means your payment might go up (or down). The right choice depends on how long you plan to stay in the home and how comfortable you are with payment uncertainty. If stability matters most to you, fixed is usually the answer. If you're planning to move or refinance in a few years, adjustable might make sense. Either way, it's worth talking through the pros and cons for your specific situation. Let's talk about which loan structure works best 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
Derek Gonnerman
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