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Mortgage Market Update
Pia Harriman
Pia Harriman
Friday, November 6, 2026
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Fixed or adjustable: which makes sense for you |
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Every borrower I work with faces the same fundamental question: do you want your rate locked in, or are you willing to take some risk for a lower starting payment? Here's how to think about it.
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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 Programs
Fixed vs. adjustable: which loan fits your life
One of the biggest choices you'll make isn't about how much to borrow—it's about how your rate behaves over time. A fixed-rate mortgage keeps the same interest rate and payment for the entire loan term, which means predictability and peace of mind. An adjustable-rate mortgage starts lower but can change after an initial period, which can work well if you plan to move or refinance before rates adjust. Neither is right for everyone. Your choice depends on how long you plan to stay in the home, how comfortable you are with payment uncertainty, and what the current rate environment looks like. I'd be happy to walk you through both options and help you figure out which one actually makes sense for your situation. Let's talk about which mortgage structure works best for your goals.
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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 Pia Harriman team any time and we'll walk you through your options. |
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