Topic: Adjustable Rates (ARM)
It seems to me that we were all told that to have anything. We must get a fixed rate Mortgage, so that we won't get gouged when the interest rates go up.
But after looking at the history of interest rates over the past 20 years, people with adjustable rate mortgages have had their payments go down. While the people with fixed rate mortgages have had to refinance at great cost to get the lower payments.