How Do ARMs and Fixed-Rate Mortgages Differ?


  If you are buying a new home or planning a refinance, you may wonder which is better for you: an adjustable-rate mortgage (ARM) or a fixed-rate mortgage?   The short answer is: it depends.   Your family's financial situation and the current average mortgage interest rate will affect which loan is best for you. A good place to start when you need to shop for a mortgage is to understand the two main loan types.   In this article, we will break down these two types of mortgages to help you make a more informed decision when the time is [...]