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Mortgage Market Update
My Mortgage Company
All Western Mortgage
Tuesday, November 3, 2026
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Fixed or adjustable — what's the real difference |
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When rate conversations get overwhelming, sometimes the basics get lost. This week I want to step back and clarify one of the most important choices you'll make on 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 Basics
Fixed vs. adjustable: which loan type fits your plan
When you're shopping for a mortgage, you'll hear a lot about fixed-rate and adjustable-rate loans. The difference matters more than you might think. A fixed-rate mortgage locks in your interest rate for the entire loan term — your payment stays the same from day one to payoff. An adjustable-rate loan starts lower but can change after an initial period, which means your payment may go up (or down) over time. Neither is inherently "better." It depends on how long you plan to stay in the home, how comfortable you are with payment uncertainty, and what's happening in the market right now. I'd love to walk you through what makes sense for your situation. Let's talk about which loan type aligns with 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 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
All Western Mortgage
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