• whichever one you want to choose
  • A fixed rate you will pay the same amount for the length of the mortgage. The only thing that will change is you town/city/state taxes and insurance premiums. An adjustable rate can go up or down and some are guaranteed for 5 years.
  • Generally speaking: if you are buying when rates are high, an adjustable rate mortgage is the better choice (because the rate is LIKELY to go down, and be lower during the lifetime of the mortgage than a comparable fixed-rate mortgage). Otherwise, a fixed-rate (because the rate is typically lower to start with than an adjustable-rate mortgage and will remain steady while an adjustable-rate is likely to rise). Currently I'd GUESS that a fixed-rate will be the much better deal during the lifetime of the mortgage.

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