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 Intro 3:10 Buying a home 5:18 How ARMs work 7:24 Why use an ARM? 10:11 What's the risk? 14:07 When not to get an ARM 16:15 When to get an ARM 18:50 Other considerations 20:21 Analysis 21:06 Outro Create Your Custom Strategy ⬇️ Get Started Here. Join the new Root Collective HERE!