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Mortgage Market Update
Pia Harriman
Pia Harriman
Tuesday, November 3, 2026
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Fixed or adjustable: which makes sense for you |
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Every borrower I work with faces the same fundamental question: do you want your rate locked in, or are you willing to take some risk for a lower starting payment? Here's how to think about it.
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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 Programs
Fixed vs. adjustable: which loan fits your life
One of the biggest choices you'll make isn't about how much to borrow—it's about how your rate behaves over time. A fixed-rate mortgage keeps the same interest rate and payment for the entire loan term, which means predictability and peace of mind. An adjustable-rate mortgage starts lower but can change after an initial period, which can work well if you plan to move or refinance before rates adjust. Neither is right for everyone. Your choice depends on how long you plan to stay in the home, how comfortable you are with payment uncertainty, and what the current rate environment looks like. I'd be happy to walk you through both options and help you figure out which one actually makes sense for your situation. Let's talk about which mortgage structure works best for your goals.
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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 Pia Harriman team any time and we'll walk you through your options. |
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