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A Note From Cory Hoag
Cory & Crew Updating You!
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THIS WEEK
Fixed or adjustable—what's the difference
Hi there. This week I want to walk you through one of the core choices that shapes your mortgage.
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RATE SNAPSHOT · November 4, 2026
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CONVENTIONAL 30-YR
7.12%
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FHA 30-YR
6.90%
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VA 30-YR
6.76%
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Source: Optimal Blue daily mortgage indices via FRED · Informational only
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Loan Program Options
Fixed vs. adjustable: which fits your plan
One of the bigger decisions you'll make when getting a mortgage is whether to lock in a fixed rate for the life of your loan or choose an adjustable rate that starts lower but changes over time. The right choice depends on your timeline and comfort level. If you're planning to stay in your home long-term, a fixed rate gives you predictability—your payment never changes. If you think you'll move or refinance within a few years, an adjustable option might work, but it does come with uncertainty down the road. Both are legitimate paths. The key is understanding what each one means for your situation and your peace of mind.
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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 Cory Hoag team any time and we'll walk you through your options.
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