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Mortgage Market Update
Johnny DuRocher
Johnny DuRocher
Tuesday, November 3, 2026
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Fixed rate or adjustable—what's the difference? |
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There's a lot of jargon in mortgage lending. This week I'm breaking down one of the most important decisions you'll make when you get a loan.
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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 fits your plan?
When you're shopping for a mortgage, one of the biggest choices isn't about money down or credit score—it's the type of loan itself. A fixed-rate mortgage keeps the same interest rate for the life of the loan, so your payment stays predictable. An adjustable-rate mortgage starts lower but can change after an initial period, which means your payment could go up or down later on. Neither is automatically better; it depends on how long you plan to stay in your home, how comfortable you are with payment uncertainty, and where rates are heading. If you're not sure which makes sense for your situation, I'd love to walk through the trade-offs with you.
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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 Johnny DuRocher team any time and we'll walk you through your options. |
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2701 East Insight Way, Suite 150 Chandler AZ 85286
https://johnnydurocher.theradcrm.com/home
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