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Mortgage Market Update
My Mortgage Company
Test Rey Magz
Tuesday, November 3, 2026
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Fixed or adjustable rate—what's the difference? |
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Hi there. This week I want to walk you through one of the most important decisions you'll make as a borrower.
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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 fits your plan?
One of the biggest choices in any mortgage is whether to lock in a fixed rate for the life of your loan or start with a lower adjustable rate that can change over time. A fixed rate gives you payment certainty and peace of mind—your rate and payment stay the same whether rates rise or fall. An adjustable rate may offer a lower starting point, but it carries risk: your payment could increase significantly after the initial period ends. The right choice depends on how long you plan to stay in the home, how comfortable you are with payment uncertainty, and what the rate environment looks like right now. There's no universal "better" option—it's about matching the loan to your life and risk tolerance. Let's talk through which structure makes sense for your situation.
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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
Test Rey Magz
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