[Macha]

In my case I went for a 5 year fixed because if I save at the same rate in those 5 years as I have in the last 5 years (which given my mortgage repayments are 75% of the rent I was paying prior, for much more house, shouldn't be too challenging, even with the inflation), then if rates are shit in 5 years I can pay off like 40% of the mortgage after the fixed rate and still have lower payments than I do today.

[bombcar]

I almost grabbed an ARM on one refinance because the maximum amount it could jump at each adjustment was 1%.

Years ago my dad took an ARM at 18% because the anti-usury laws limited the maximum it could go to 20% and it turned out to drop each adjustment period after that (80s wheeee)