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Mortgage Market Update
CJ Cunningham
CJ Cunningham
Tuesday, November 3, 2026
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Fixed or adjustable: what's the difference? |
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Choosing a loan type involves more than just picking a rate. I want to break down one of the most important decisions you'll make when financing a home.
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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 Options
Fixed vs. adjustable: which fits your plan?
One of the biggest choices in getting a mortgage is whether you want your rate to stay the same for the entire loan, or start lower and adjust over time. A fixed-rate loan gives you payment predictability—you know exactly what you owe every month for 15, 20, or 30 years. An adjustable-rate mortgage typically starts at a lower rate, which can mean lower payments early on, but that rate can change after an initial period, so your payment may go up later. Neither is universally "better"—it depends on how long you plan to stay in the home, how comfortable you are with uncertainty, and what the current market looks like. The right choice is personal to your situation and your peace of mind. 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 CJ Cunningham team any time and we'll walk you through your options. |
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