Are Adjustable Rate Mortgages Right for You in a High Interest Rate Environment?

Are short-term savings using an adjustable rate mortgage worth the risk of rate hikes? In this podcast, we cover how adjustable rate mortgages (ARMs) work, how they differ from fixed-rate mortgages, and the reality of their adjustment periods. James uses a real-life scenario to dive into the comparison of adjustable and fixed-rate mortgages. Learn how to plan for the worst-case scenarios and evaluate the benefits and drawbacks of each option. Questions answered:Is it better to get a fixed rate mortgage, or is it better to get an adjustable rate mortgage? What is the risk versus reward?Timestamps:0:00 Intro3:10 Buying a home5:18 How ARMs work7:24 Why use an ARM?10:11 What's the risk?14:07 When not to get an ARM16:15 When to get an ARM18:50 Other considerations20:21 Analysis21:06 OutroCreate Your Custom Strategy ⬇️ Get Started Here.