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Mortgage Market Update
My Mortgage Company
Derek Gonnerman
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 clear up one of the biggest decisions homebuyers face when they're ready to move forward.
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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 Basics
Fixed vs. adjustable: which actually fits you?
When you're looking at loan options, the choice between a fixed-rate and adjustable-rate mortgage matters more than you might think. A fixed rate gives you certainty—your payment stays the same for the life of the loan, which makes budgeting predictable. An adjustable rate typically starts lower, but can move over time, which means your payment could go up. Neither is right or wrong; it depends on your timeline, comfort with risk, and how long you plan to stay in the home. If you're unsure which path makes sense for your situation, I'd love to walk you through the trade-offs and help you figure out what fits your life best. Let's talk about which loan structure would work best for you.
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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
Derek Gonnerman
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