Which Mortgage type is betterr, a fixed or adjustable rate?
A. Ask your loan broker or lender to give you all of the available options. A fixed rate mortgage stays the same for the entire length of the loan, while the interest rate of an adjustable rate for Mortgage Refinance changes with the market over time. Although an adjustable rate mortgage might offer lower payments to start with, if rates go up, your payment will, too. Make sure that you always consider the worst case scenario.
