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Mortgage Market Update
My Mortgage Company
Jill McCain
Tuesday, November 3, 2026
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Fixed or adjustable: which fits your plan? |
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Hi there. This week I want to break down one of the most important decisions you'll make when you borrow—the type of rate structure that works for your life.
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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 or adjustable: which fits your plan?
When you're shopping for a mortgage or thinking about refinancing, one of the biggest choices is whether to lock in a fixed rate for the life of your loan or start with a lower adjustable rate. Fixed-rate mortgages give you predictability—your payment stays the same for 15, 20, or 30 years, no matter what happens in the market. Adjustable-rate mortgages often start lower but can change after an initial period, which means your payment could go up. The right choice depends on how long you plan to stay in your home and how comfortable you are with payment uncertainty. I'd love to walk you through both options and help you see which one makes sense for your situation. Let's talk through what works best 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
Jill McCain
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