Master Hidden Secrets of Mortgage Rates Today
Types of Mortgage Rates
There are two primary types of mortgage rates: fixed-rate and adjustable-rate. A fixed-rate mortgage has an interest rate that remains constant throughout the life of the loan, providing stability and predictability in your monthly payments. Conversely, an adjustable-rate mortgage (ARM) has an interest rate that can change periodically, often starting lower than fixed rates but potentially increasing over time. Understanding these options can help you decide which type of mortgage aligns best with your financial goals2.