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Mortgage Market Update
My Mortgage Company
Russ Cox
Tuesday, November 3, 2026
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Fixed rate or adjustable—what's the difference? |
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Hi there. This week I want to break down one of the most important choices you'll make when you get a mortgage.
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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 one fits your situation?
One of the biggest decisions in a mortgage comes down to how your interest rate will behave over time. A fixed-rate loan keeps the same rate for the entire life of your loan—predictable and stable. An adjustable-rate mortgage starts lower but can change after an initial period, which means your payment could go up or down depending on market conditions. Neither is automatically "right"—it depends on how long you plan to stay in your home, your comfort with payment uncertainty, and where rates are positioned. If you're thinking through which makes sense for your situation, I'm here to walk you through the tradeoffs without pressure. Let's talk through which loan type aligns with your goals and timeline.
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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
Russ Cox
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