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Mortgage Market Update
My Mortgage Company
Barrett Processing
Friday, November 6, 2026
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Fixed or variable—which is right for you |
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Hi there. When we talk about mortgages, the type of rate you choose shapes everything else about the loan.
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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 Basics
Fixed or adjustable? Here's what to consider
One of the biggest choices when taking out a mortgage is whether you want your interest rate locked in for the entire loan, or whether you're open to it changing over time. A fixed rate gives you stability and predictability—your payment stays the same for 15, 20, or 30 years, no matter what happens in the market. An adjustable rate often starts lower, but can move up (or down) after an initial period. Neither is automatically "better"—it depends on your plans, comfort with uncertainty, and how long you expect to stay in your home. If you're unsure which path makes sense for your situation, I'd love to walk you through both. Let's talk through which type fits your needs 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 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
Barrett Processing
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