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Mortgage Market Update
My Mortgage Company
Daryle Evans - For Deletion
Tuesday, November 3, 2026
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ARM vs. fixed rate: which is right for you? |
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Mortgage loans come in different flavors, and not every option is best for every person. This week I want to break down one choice that often comes up in our conversations.
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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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Adjustable Rates
Understanding ARM loans and when they make sense
An adjustable-rate mortgage (ARM) starts with a lower initial rate that later adjusts based on market conditions. For some borrowers, this can mean lower payments early on—but it's important to understand what happens when that rate adjusts. ARMs typically work well if you're planning to sell or refinance before the adjustment period kicks in, or if you're comfortable with potential payment changes down the road. The key is knowing your specific loan terms and having a realistic plan. I'm happy to walk you through whether an ARM could fit your situation or if a fixed rate makes more sense for your goals. Let's talk about which loan structure fits your timeline and comfort level.
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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
Daryle Evans - For Deletion
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