Should I get a Fixed rate when there are lower rates with other programs?

It is true there are all kinds of low Rates flying around in the papers and on the internet but you need to look at them carefully. Some of them MIGHT be suitable for you IF you know for a certainty you will not be staying in the home for over 3-4 Years. Lets face it, you as a borrower usually cannot see that far into the future to know what will happen in a few years. You may have a plan or idea in place but things can and do change. When you get a fixed rate all of the uncertainty is taken out of the picture. You now can make changes in your life and not have to worry about your rates going up. Maybe the job relocation will happen and maybe it won't. Maybe you thought you would want a bigger home and now you find this one is great. You get the point. For most borrowers a fixed rate is the only way to go. Do not get sucked into the low teaser start rates out there. If you cannot afford a fixed rate payment save some more down-payment or maybe lower your expectations of what you need (not want) for a new home. Being able to afford that house payment each month can bring a untold measure of relief for your financial affairs. www.rateinformer.com