Fixed vs. Adjustable-Rate Mortgages: Which Is Right for You?

Choosing between a fixed-rate and an adjustable-rate mortgage (ARM) depends on your long-term financial goals. A fixed-rate mortgage provides stability with consistent payments, making it ideal for those planning to stay in their home long-term. On the other hand, an ARM offers lower initial rates, which can be beneficial if you plan to sell or refinance before the rate adjusts. Understanding the pros and cons of each option will help you make the best decision for your financial future.