If you are looking to buy a home, you may want to consider an adjustable-rate mortgage — but experts say it’s important to know what that means before you commit.
A fixed-rate mortgage has a set interest rate that doesn’t change. But an adjustable-rate mortgage is a loan with an interest rate that could change over time. Part of the rate will be tied to a “broader measure of interest rates, called an index,” according to the Consumer Financial Protection Bureau.
