Been chatting with a friend who's house hunting right now, and we got into this whole debate about fixed-rate mortgages versus adjustable-rate mortgages. I mean, fixed rates seem like the safe bet, right? You know exactly what you're paying every month, no surprises. But then again, adjustable rates can start off lower, and if interest rates drop later on, you might end up saving a decent chunk of change.
Personally, I'm leaning toward fixed because I'm kinda risk-averse (okay, maybe a little paranoid about money stuff lol). But my friend thinks adjustable is smarter right now because he figures rates might go down in the next few years. Honestly, I dunno... feels like gambling to me.
Curious what others think—would you rather lock in a steady rate or roll the dice with an adjustable one?
Haha, I totally get the paranoia about money stuff... been there myself. Honestly, fixed-rate feels like the comfy sweatpants of mortgages—maybe not flashy, but reliable and cozy when things get chilly. Adjustable rates can be tempting, sure, but who really knows where rates are headed? I'd rather sleep easy knowing exactly what's coming outta my bank account each month. But hey, props to your friend for being brave enough to roll those dice!
