Many prospective homebuyers and current homeowners alike are keeping a close eye on mortgage rates during the new year. Understanding where mortgage rates are headed can play a pivotal role in financial planning, whether you're looking to buy your first home or refinance an existing mortgage.
When it comes to buying a home, one of the most critical decisions you’ll make is selecting the right mortgage. Like homes themselves, mortgages come in many sizes and types. Two of the most common options are fixed-rate and adjustable-rate mortgages (ARMs).