Because there’s no guarantee rates will stay at 4.75% for 10 years. Getting 4.75% for 1 year and then 0% for the next 9 years is objectively far worse than gett

Because there’s no guarantee rates will stay at 4.75% for 10 years. Getting 4.75% for 1 year and then 0% for the next 9 years is objectively far worse than getting 3.5% for 10 years.