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Mortgage Market Update
My Mortgage Company
Philip Carcel Munce
Tuesday, November 3, 2026
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What you should know about ARM loans |
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There are more mortgage options out there than most people realize. This week, I'm breaking down one that gets overlooked—and when it might actually be right for you.
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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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ARM vs Fixed
Understanding adjustable-rate mortgages
If you've been shopping for a mortgage lately, you've probably heard about adjustable-rate mortgages (ARMs). They work differently than fixed-rate loans: your interest rate starts lower but can change after an initial period, which means your payment could go up over time. ARMs can make sense for some borrowers—especially those planning to sell or refinance before rates adjust. But they require a honest conversation about your timeline and comfort level with payment uncertainty. Before choosing any loan type, it helps to understand exactly how each one behaves and what risk you're actually taking on. I'm here to walk through the pros and cons with your specific situation in mind. Let's talk through whether an ARM or fixed rate makes more sense for 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 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
Philip Carcel Munce
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