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Mortgage Market Update
Naikeya Haley
Naikeya Haley
Tuesday, November 3, 2026
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Fixed or adjustable—what's the difference? |
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Hi there. This week I want to walk through one of the most important decisions in getting a mortgage, and it's one I see borrowers overlook too often.
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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 Type Basics
Fixed vs. adjustable: which one fits your plan?
A lot of people focus on interest rates when they're shopping for a mortgage, but the type of loan you choose matters just as much for your long-term picture. With a fixed-rate loan, your payment stays the same for the life of the loan—that predictability is powerful if you're planning to stay in your home or you like knowing exactly what you'll owe each month. An adjustable-rate loan might start lower, but the payment can change over time as rates move in the market. The right choice depends on your timeline, risk tolerance, and how long you see yourself in the home. Neither is inherently better; it's about what aligns with your situation and peace of mind. Let's talk through which structure makes sense for where you are right now.
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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 Naikeya Haley team any time and we'll walk you through your options. |
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