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Mortgage Market Update
My Mortgage Company
Nick Street - FOR DELETION
Tuesday, November 3, 2026
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Fixed or adjustable: which works for you? |
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One of the biggest decisions in mortgage shopping isn't about how much to borrow—it's about the structure of your loan itself. Let me break down the main types so you can choose confidently.
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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 Program Options
Fixed or adjustable: which loan fits your plan?
When you're shopping for a mortgage, one of the biggest choices is whether to lock in a fixed rate for the life of your loan or start with an adjustable rate that changes over time. A fixed-rate mortgage gives you payment stability and peace of mind—your rate and payment never change. An adjustable-rate mortgage typically starts lower, which can mean a smaller payment early on, but it will adjust periodically based on market conditions. The right choice depends on how long you plan to stay in your home, your comfort with payment uncertainty, and your financial goals. If you're staying put for years, fixed often wins. If you're planning to move or refinance sooner, an ARM might make sense. I'd like to walk through both options with you and help you figure out which aligns with your situation. Let's talk through your loan options and find the best fit for your timeline and budget.
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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
Nick Street - FOR DELETION
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