Yes, but you can always refinance a fixed rate mortgage into a new fixed rate mortgage at a lower rate. You have to do it intentionally, and it’s optional, so y

Yes, but you can always refinance a fixed rate mortgage into a new fixed rate mortgage at a lower rate. You have to do it intentionally, and it’s optional, so you only do it when the rate moves in your favor. Variable rate mortgages change automatically, which means they can move against you.