Contrarian Interest Rate Thinking

As interest rates have risen, we are seeing plenty of people defaulting on adjustable rate and hybrid mortgages with adjustable interest rates. This means, of course, that we should now be applying only for fixed rate loans, correct? No! In general, you should apply for adjustable rate mortgages when interest rates are high. After all, how much higher can they go? Will the Federal Reserve raise them much more? No. It would crush the economy and send us into a deep recession. If you are buying now, consider an adjustable mortgage. If rates drop massively, you should then consider a fixed rate mortgage.