This! ☝🏻 I don’t understand this concept ever, but especially after the housing crisis in during Obama’s first term. It’s a no brainer. We’re in a fixed mortgage w/ an insanely low interest rate and we were planning on doing a new build soon and moving. Well again, it’s a no brainer w/ the mortgage rates steadily increasing and set to increase even more throughout the year, there’s no way we’re going to attempt to move and lose our low interest rate.
This! ☝🏻 I don’t understand this concept ever, but especially after the housing crisis in during Obama’s first term. It’s a no brainer. We’re in a fixed mortgage w/ an insanely low interest rate and we were planning on doing a new build soon and moving. Well again, it’s a no brainer w/ the mortgage rates steadily increasing and set to increase even more throughout the year, there’s no way we’re going to attempt to move and lose our low interest rate.
fixed rate, 30 year beats inflation.
ARMs can be fixed rate for terms such as seven or 10 years, and are now underwritten much more carefully than they once were.