Blog > What’s the Difference Between Fixed-Rate and Adjustable-Rate Mortgages?

What’s the Difference Between Fixed-Rate and Adjustable-Rate Mortgages?

by Gordon Hageman

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A fixed-rate mortgage locks in one interest rate for the entire loan term, offering stability and predictable payments. An adjustable-rate mortgage (ARM) starts with a lower initial rate that adjusts after a set period based on market conditions. ARMs can be advantageous for buyers planning to move or refinance within a few years, but carry more risk if rates rise. The best choice depends on personal goals, budget, and tolerance for rate fluctuations.

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Laura Turner

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