Fixed vs. Variable mortgage

“Wow!” you say to your spouse as you hit the brakes on the car. “Did you see the mortgage rate those guys are advertising?” Your worries are over, you’re thinking. Just lock in a rate like that for the next ten years, and you’ve got it made. Not so fast. ThaI rate may not be the one for you. Typically, the lowest available rate – and the one that makes the rate sign look great from the street – will be for a variable-rate mortgage. That variable rate has the potential to be like a roller coaster. The posted variable rate is the rate you’re…