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Mortgage Market Update
My Mortgage Company
Nick Robertson
Tuesday, November 3, 2026
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Fixed or adjustable: which one fits you |
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When you're shopping for a mortgage, loan type matters as much as rate. This week I want to walk you through one of the most important choices you'll make.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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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 vs. adjustable: what actually changes
One of the biggest choices in a mortgage is whether to lock in a rate for the full loan term or accept a rate that can move over time. A fixed-rate mortgage gives you predictability—your rate and payment stay the same for 15, 20, or 30 years. An adjustable-rate mortgage typically starts lower but can increase after an initial period, which means your payment could go up. Neither is universally "better"—it depends on how long you plan to stay in the home, your comfort with payment uncertainty, and where rates are headed. Understanding the difference helps you pick the option that actually fits your situation, not just the lowest starting number. Let's talk through which structure makes sense for your goals.
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Tip of the Week
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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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
Nick Robertson
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