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Mortgage Market Update
My Mortgage Company
Jim Booher
Friday, November 6, 2026
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Fixed or adjustable rate: which one fits you |
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One of the most important mortgage decisions you'll make has nothing to do with rates alone. It's about choosing a loan structure that matches your life plan.
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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
When you're shopping for a mortgage, one of the biggest decisions is whether to lock in a fixed rate for the life of your loan or start with an adjustable rate that can change over time. A fixed rate gives you predictability—your payment stays the same for 15, 20, or 30 years. An adjustable rate typically starts lower but can move up or down based on market conditions after an initial period. The right choice depends on your timeline, risk tolerance, and how long you plan to stay in the home. If you're building long-term equity and want peace of mind, fixed is usually the safer bet. If you're planning to move or refinance within a few years, an adjustable program might make sense. I'd love to walk you through both options and help you figure out which aligns with your situation. Let's talk through which loan program makes the most sense 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 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
Jim Booher
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