Choosing fixed or adjustable rates depends on your home tenure, income, and risk tolerance.
Fixed-rate mortgages offer steady payments and protect against rising rates, ideal for long-term homeowners.
Adjustable-rate mortgages start lower, saving money if inflation stays low and homeowners move sooner.
From 2010–2019 ARMs were cheaper, but fixed rates were better during pandemic rate increases.
Refinancing fixed-rate mortgages can save money, but check for prepayment penalties first.