Why I went with a fixed rate mortgage (and maybe you should too?)
- I looked at ARMs for a hot minute, but honestly, the idea of my payment jumping around made me twitchy. I like knowing what I’m in for every month—no surprises.
- The “I’ll just refi before the rate adjusts” plan sounds good until you realize life doesn’t always cooperate. Job changes, market shifts, random stuff... it all happens.
- Closing costs are sneaky. I ran the numbers and realized I’d have to stick around for years just to break even if I kept refinancing. Not my idea of fun.
- I get the appeal of the lower intro rate, but unless you’re 100% sure you’ll move or sell, it feels like a gamble. I’m not that lucky.
- Watching friends scramble when rates shot up last year was enough for me. I’d rather pay a little more for peace of mind and skip the stress.
Maybe I’m just boring, but I’ll take predictable over “maybe it’ll work out” any day.
Totally get where you’re coming from. I went through the same thought process—ran the numbers, looked at ARMs, but the what-ifs just piled up. I’ve seen a couple folks burned when their ARM rates reset higher than they expected. Sure, fixed rates aren’t always the lowest, but knowing my payment stays put is worth it. “Boring” isn’t a bad thing when it comes to your biggest bill each month.
