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Mortgage Market Update
My Mortgage Company
Nicholas Smith
Tuesday, November 3, 2026
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Fixed or adjustable: how to choose |
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There are more ways to finance a home than ever, and picking the right loan structure matters. Here's what you need to know to make a confident decision.
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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 Guide
Fixed vs. adjustable: which one fits your plan?
When you're shopping for a mortgage, one of the biggest choices is whether to lock in the same rate for the life of your loan or start with a lower rate that adjusts over time. A fixed rate gives you predictability and peace of mind—your payment never changes. An adjustable rate typically starts lower, which can mean smaller monthly payments early on, but it can go up later. The right choice depends on how long you plan to stay in your home, your comfort with payment uncertainty, and where rates are headed. There's no one-size-fits-all answer, which is exactly why I like to walk through both options with you based on your specific situation. Let's talk through what makes sense 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
Nicholas Smith
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