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Mortgage Market Update
My Mortgage Company
Kevin Fugit
Tuesday, November 3, 2026
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Fixed or adjustable: what's the difference? |
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Understanding your mortgage options can feel overwhelming, but breaking it down into simple choices makes it much easier. This week, let's talk about the two main loan types and how to think about which one works for you.
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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: which loan type fits you?
When you're shopping for a mortgage, one of the biggest decisions is whether to lock in a fixed rate for the life of your loan or start with an adjustable rate that can change over time. A fixed-rate mortgage gives you predictability—your payment stays the same month after month, year after year. An adjustable-rate mortgage typically starts lower but can move up (or down) after an initial period, which means your payment could change. The right choice depends on how long you plan to stay in your home, your comfort with payment uncertainty, and where rates stand right now. I'd be happy to walk through both options with you and help you figure out which one makes sense for your goals. Let's talk through your loan options—reach out anytime.
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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
Kevin Fugit
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