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Mortgage Market Update
My Mortgage Company
Joseph O'Connell
Friday, November 6, 2026
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Fixed or adjustable—which fits you? |
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One of the biggest choices in a mortgage isn't talked about nearly enough. Let's break down what actually matters when you're choosing between loan types.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.18%
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Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey
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 Fit
Fixed or adjustable: which one matches your plan?
One of the biggest choices you'll make isn't about how much to borrow—it's about the structure of your loan itself. A fixed-rate mortgage keeps your payment stable for the entire term, which means predictability and peace of mind. An adjustable-rate mortgage may start lower, but can change over time, which works well if you're planning to sell or refinance before rates adjust. Neither is universally "right"—it depends on your timeline, risk tolerance, and how long you actually plan to stay in the home. Understanding which loan type aligns with your real-world situation can make a significant difference in your comfort level as a homeowner. If you'd like to talk through which structure makes sense for your circumstances, I'm here to walk through it with you. Let's find the loan type that fits your life—reach out anytime.
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Tip of the Week
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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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
Joseph O'Connell
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