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Mortgage Market Update
Your Lender Erin
Xpert Home Lending
Friday, November 6, 2026
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Should you lock in a fixed rate or start lower? |
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Hi there—I'm breaking down one of the most important loan decisions you'll make, and it's simpler than you might think.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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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 Guide
Fixed vs. adjustable: which type fits your plan?
One of the biggest decisions in a mortgage isn't just the rate—it's the structure of the loan itself. A fixed-rate mortgage keeps the same rate and payment for the entire life of the loan, giving you predictability and peace of mind. An adjustable-rate mortgage typically starts lower but can change after an initial period, which might make sense if you plan to sell or refinance before that adjustment happens. Neither is automatically better; it depends on your timeline, risk comfort, and how long you think you'll stay in the home. Understanding the trade-offs helps you choose the loan that actually matches your life, not just the lowest starting number. I'm happy to walk through the pros and cons of each option for your situation.
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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 Your Lender Erin team any time and we'll walk you through your options. |
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5103046216 | www.yourlendererin.com
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