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Mortgage Market Update
Tanner Floyd
Tanner Floyd
Tuesday, November 3, 2026
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Fixed or adjustable—what makes sense for you? |
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Hi there. This week I want to break down one of the biggest decisions you'll make when choosing a mortgage.
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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 Options
Fixed vs. adjustable: which one fits your plan?
When you're shopping for a mortgage or thinking about refinancing, one of the biggest choices is between a fixed-rate loan—where your rate and payment stay the same for the life of the loan—and an adjustable-rate mortgage, where your rate can change after an initial period. Fixed rates give you predictability and peace of mind. Adjustable rates often start lower, which can mean a smaller payment early on, but they carry the risk that your payment could go up later. The right choice depends on how long you plan to stay in your home, how comfortable you are with payment uncertainty, and what your financial goals look like. There's no universal "best" answer—it's about what works for your situation. Let's talk through both options and find the structure that matches your needs.
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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 Tanner Floyd team any time and we'll walk you through your options. |
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