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Mortgage Market Update
My Mortgage Company
Mortgage Biz
Tuesday, November 3, 2026
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Fixed or adjustable: which fits your plan? |
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Hi there. This week I want to talk about one of the most overlooked parts of choosing a mortgage—not just the rate itself, but the type of rate that works best for your life.
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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 Fit
Choosing between fixed and adjustable rates
One of the biggest decisions in a mortgage is whether to lock in a fixed rate for the life of your loan or start with a lower adjustable rate that can change over time. Fixed rates offer predictability—your payment stays the same from day one to payoff. Adjustable rates typically start lower, which can mean lower early payments, but they carry the risk that your rate will adjust upward later. The right choice depends on how long you plan to stay in your home, your comfort with payment uncertainty, and what the rate environment looks like right now. There's no universally "best" option—it's about what fits your situation and your peace of mind. If you'd like to talk through which structure makes sense for your timeline and goals, I'm here to walk you through the trade-offs.
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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
Mortgage Biz
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