If
you prefer predictable payments and / or are planning to stay in your home for longer than a decade, a fixed - rate mortgage may be better, says Shikma Rubin, a mortgage consultant at Tidewater Home Funding in Chesapeake, VA. «This is especially true in today's market, when interest rates are low.
Borrowers who
prefer predictable payments generally prefer fixed rate loans, which won't change in cost.
If the borrower
prefers predictable payments that will not change, then a fixed rate loan may be their best choice.
Not exact matches
However, if you plan to take a bit longer to pay off your loans, or you
prefer stable,
predictable payments, a fixed - rate loan may be the best choice.
Most borrowers
prefer the stable,
predictable payments of fixed rate mortgages.