Different banks will offer different rates for mortgage financing and although the rates may be generally the same across a lot of banks in Houston Texas with minor almost negligible differences. The type of mortgage financing that you take will ultimately dictate the kind of interest rate you pay and for how long. Fixed mortgage rates are advantageous because they are not affected by fluctuating mortgage rates. If you get a fixed mortgage your payment will not go up even when the rates go up in the market but the same is also true if the rates go down. The other kind of rate is the adjustable rate mortgages; this is the exact opposite of the fixed rate mortgage meaning your payments are generally dependent on market fluctuations. The hybrid mortgage combines the fixed rate and the adjustable rate, the loan carries a fixed rate for a period of time and then becomes adjustable afterwards.