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Mortgage Market Update
Parry Ward
Parry Ward
Friday, November 6, 2026
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ARM or fixed rate—which is right for you? |
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One of the biggest decisions in getting a mortgage is the type of loan you choose. Today I want to break down the difference and help you think through what fits your life.
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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 Strategy
Fixed vs. ARM: which loan fits your plan?
When you're shopping for a mortgage, you'll usually see two main types: fixed-rate loans, where your payment stays the same for the life of the loan, and adjustable-rate mortgages (ARMs), where the rate can change after an initial period. A fixed rate gives you predictability and peace of mind. An ARM might start lower, which can mean a smaller payment early on—but only if you plan to move or refinance before the rate adjusts. Neither is right for everyone. The choice depends on how long you're staying in the home, how comfortable you are with payment uncertainty, and what the rate environment looks like. I'd love to walk you through the tradeoffs so you can pick what actually works for your situation. Let's talk through your timeline and see which option makes sense for you.
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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 Parry Ward team any time and we'll walk you through your options. |
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