That's generally what I believe, but I found myself growing frustrated as I worked my butt off all week, only to discover I gained 3 pounds. Was it water over a careless meal? Was I eating too much? I had no clue. So I decided to weigh in more frequently so I can keep a closer eye on how my diet affects my weight. If I ate like crap on Saturday and gained 3 pounds, I knew it had to be mostly water.
Since I'm looking to lose quite a bit of weight (current goal is around 70 pounds), keeping an eye on the scale is still a worthy marker for me, I think. However, I seem to still be slowly but steadily losing notches in my belt, so I know I'm still losing at least some fat.
I'll say it again. Expect to gain some weight. And lose fat. You can lose fat and yet weigh more. Muscle weighs more, and burns more energy, and being a novice means you gain muscle easier. The fat will come off, just don't expect to weigh less as quickly. It's better to be a lean 260 than a fat 240.