Why I went with a fixed rate mortgage (and maybe you should too?)

Did you consider how long you might stay in the house before locking in?

That’s a good point - timing really does matter. I’ve seen people save with ARMs when they knew they’d be out in 5 years. But honestly, for most folks, life changes and plans shift... fixed just feels safer.

I get the whole “fixed just feels safer” thing, but sometimes I think we’re all a little too allergic to risk. I mean,

“life changes and plans shift...”

- sure, but if you’re pretty confident you’ll be moving (or refinancing) in a few years, why pay extra for the security blanket? I’ve had clients who took an ARM, saved a chunk every month, and used that cash for renos or just... more tacos. Not saying it’s for everyone - if you’re the type who loses sleep over interest rates, fixed is probably your jam. But sometimes playing it safe costs more than it needs to. Just my two cents.

I get where you’re coming from.

“if you’re pretty confident you’ll be moving (or refinancing) in a few years, why pay extra for the security blanket?”

That’s fair - short-term, an ARM can make a lot of sense. But what about folks who *think* they’ll move and then plans go sideways? Ever seen someone get stuck with a rate jump because life threw them a curveball? Curious if that risk is worth the upfront savings for most people.

But what about folks who *think* they’ll move and then plans go sideways? Ever seen someone get stuck with a rate jump because life threw them a curveball?

Yeah, that’s the big “what if,” right? I’ve seen people get caught when their ARM resets and suddenly their payment jumps by hundreds a month. Sometimes it’s a job loss, sometimes the housing market just tanks and selling isn’t an option. The upfront savings are tempting, but unless you’re really sure about your timeline, fixed can be a lot less stressful in the long run. Peace of mind has value too, even if it costs a bit more.