Whether to fix or float, and for how long is a common question for borrowers to ask. With interest rates at 15-year highs and household budgets considerably tighter than in the past, there’s more riding on these decisions today. Those who opt for a lengthier fixed term will save some money in the immediate future, but they might find themselves stuck on higher rates if the winds change. In that case, it might be preferable to select a shorter-term rate and keep your options open. As with most money matters, the best course of action will depend on your individual situation. However, here’s our take on the issues to consider at this juncture.

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