With mortgage rates near their historic lows, fixed rate home mortgages are likely going to be a much better deal if you
plan on living in the house for an extended period of time, as when rates reset on ARM
loans the prior short - term savings will likely be more than
offset by the higher rates for the duration of the
loan, which can cause the interest - only
loan payment to exceed the amoritizing 30 year fixed rate payments if mortgage rates spike high enough.