ARM. Those three letters have become tantamount to a four letter word or a jail sentance. But here some information that will help make these three letters clear and help you choose the mortgage that's best for you: Adjustable or Fixed-Rate Mortgages? - Determining whether to choose an adjustable rate mortgage or a fixed-rate mortgage can be confusing. This video can help make that decision easier. It's important to consider what mortgage rates are doing. The rates for adjustable-rate mortgages (ARMs) are determined in part by the actions of the Federal Reserve. If the Fed raises rates, it would be wise to choose a fixed-rate mortgage. If the Fed lowers rates, ARMs may have more attractive rates and you should weigh the option of having an adjustable-rate mortgage. Try QuickenLoans.
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