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Mortgage Market Update
Tanner Floyd
Tanner Floyd
Friday, November 6, 2026
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Fixed or adjustable—what makes sense for you? |
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Hi there. This week I want to break down one of the biggest decisions you'll make when choosing a mortgage.
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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 vs. adjustable: which one fits your plan?
When you're shopping for a mortgage or thinking about refinancing, one of the biggest choices is between a fixed-rate loan—where your rate and payment stay the same for the life of the loan—and an adjustable-rate mortgage, where your rate can change after an initial period. Fixed rates give you predictability and peace of mind. Adjustable rates often start lower, which can mean a smaller payment early on, but they carry the risk that your payment could go up later. The right choice depends on how long you plan to stay in your home, how comfortable you are with payment uncertainty, and what your financial goals look like. There's no universal "best" answer—it's about what works for your situation. Let's talk through both options and find the structure that matches your needs.
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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 Tanner Floyd team any time and we'll walk you through your options. |
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