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Mortgage Market Update
My Mortgage Company
Lance Monson
Tuesday, November 3, 2026
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Fixed or adjustable: which fits you |
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One of the most important decisions in a mortgage isn't always the most visible one. Let me explain what I mean.
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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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Fixed vs. Adjustable
Why your loan structure matters more than you think
When you're comparing mortgages, the interest rate gets most of the attention — but how your rate is structured deserves equal weight. A fixed-rate mortgage locks in the same payment for the life of the loan, which means predictability and peace of mind. An adjustable-rate mortgage typically starts lower but can change over time, which works well if you plan to sell or refinance before rates adjust, but requires comfort with payment uncertainty. Neither is universally "better" — it depends on your timeline, risk tolerance, and how long you see yourself in the home. I'd be happy to walk through how each structure might fit your specific situation and what the real tradeoffs look like for you. Let's talk through which loan structure makes sense for your plans.
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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
Lance Monson
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