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Mortgage Market Update
My Mortgage Company
Jim Booher
Tuesday, November 3, 2026
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Fixed or adjustable rate: which one fits you |
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One of the most important mortgage decisions you'll make has nothing to do with rates alone. It's about choosing a loan structure that matches your life plan.
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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
When you're shopping for a mortgage, one of the biggest decisions is whether to lock in a fixed rate for the life of your loan or start with an adjustable rate that can change over time. A fixed rate gives you predictability—your payment stays the same for 15, 20, or 30 years. An adjustable rate typically starts lower but can move up or down based on market conditions after an initial period. The right choice depends on your timeline, risk tolerance, and how long you plan to stay in the home. If you're building long-term equity and want peace of mind, fixed is usually the safer bet. If you're planning to move or refinance within a few years, an adjustable program might make sense. I'd love to walk you through both options and help you figure out which aligns with your situation. Let's talk through which loan program makes the most sense for 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
Jim Booher
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