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fixed vs floating interest rates

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  • #1

    fixed vs floating interest rates

    Which is better ?? From what I understand by reading on net floating sounds riskier & could cost ya if rates climb. Anything anyone would like to add?
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  • #2
    Floating can cost you - when we bought our house we had a 80% on a fixed rate and a 15% on an adjustable, we refinanced the adjustable to a fixed as soon as rates looked like they were going to climb and we're so glad we did.
    Wife to NSG out of training, mom to 2, 10 & 8, and a beagle with wings.

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    • #3
      What about for student loans? Has anyone found a way to consolidate private loans with a fixed rate?
      -Deb
      Wife to EP, just trying to keep up with my FOUR busy kids!

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      • #4
        re

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        • #5
          I did a 3 year adjustable rate. Fixed rate for 3 years and then it changes based on...I can't remember. I knew we would be doing something significant 3 years later and that is what will happen. Either we will move and get a new loan or do a significant addition and need to re-finance. For this situation, it has worked well for us.

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