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Mortgage Market Update
My Mortgage Company
Barrett Processing
Friday, November 6, 2026
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Fixed rate or adjustable: what's the difference? |
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When you're shopping for a mortgage, you'll hear terms like fixed-rate and adjustable-rate. Here's what they actually mean for you.
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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 fits your plan?
One of the biggest decisions when you get a mortgage is choosing between a fixed-rate loan—where your rate and payment stay the same for the entire term—and an adjustable-rate mortgage, where your rate can change after an initial period. Fixed rates offer predictability and peace of mind; adjustable rates sometimes start lower, which appeals to borrowers who plan to move or refinance before rates adjust upward. There's no universally "right" choice—it depends on how long you plan to stay in your home, your comfort with uncertainty, and your overall financial picture. If you're unsure which structure makes sense for your situation, I'd love to walk through the trade-offs with you. Let's talk about which loan structure aligns with your timeline and 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 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
Barrett Processing
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