Mortgage Market Update

My Mortgage Company

Stephanie Carman

Tuesday, November 3, 2026

Should you lock in a fixed rate?

Every week I help borrowers understand the options in front of them. This week, let's look at one of the most fundamental decisions on a mortgage.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Loan Programs

Fixed vs. adjustable: which fits your plan?

One of the biggest choices you'll make on a mortgage is whether to lock in a fixed rate for the life of the loan or start with an adjustable rate that changes over time. A fixed rate gives you payment predictability and peace of mind—your payment stays the same for 15, 20, or 30 years. An adjustable rate typically starts lower, which can mean lower initial payments, but it will adjust after an initial period, and your payment could go up. The right choice depends on how long you plan to stay in your home, your comfort with payment uncertainty, and where rates are heading. There's no universally right answer, only what's right for your situation.

If you're trying to figure out which type makes sense for you, let's talk through your timeline and goals.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Stephanie Carman

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