3 Reasons People Prefer Fixed-Rate Mortgages
You can choose from many mortgage programs when you need a loan, but you can only choose from two types of interest rates. You can choose a fixed-rate mortgage or an adjustable-rate loan. Which is better? Both offer benefits, but many people prefer fixed-rate mortgages over adjustable-rate loans. Here are three reasons people like loans with fixed rates.
1. They Lower Your Risks
The key difference between these two interest rate types is their durations.