Fixed-Rate vs. Adjustable-Rate Mortgages: Which Is Better for Seniors?
When considering a home purchase or refinancing in retirement, seniors must weigh the pros and cons of fixed-rate and adjustable-rate mortgages (ARMs). Both options come with their own set of perks and hurdles. This is especially true for those nearing retirement or thinking about moving into assisted living down the line. Choosing wisely can really make a difference in how financially comfortable those golden years will be.