Fixed Interest Rate vs. Variable Interest Rate, which is better?
A home purchase is an investment and it should be considered as a long-term investment. The value in the investment will increase and decrease periodically, just like the different types of mortgages. Deciding between fixed interest rate and variable interest rate depends on your position in getting a mortgage, being qualified for a mortgage, your tolerance for risk (fixed interest rate & variable interest rate), and your current and long-term goals.