what are the benefits of a fixed rate mortgage 
the main benefits of having a fixed rate mortgage include protection against interest rate volatility and predictability this means that your rate won t change in an environment where interest rates rise and you can plan your finances around because you ll know how much your payments are each month the bottom linemost of us can t afford to pay cash for our homes which is why we need to take out mortgages there are so many different products on the market for homeowners so it s important to do your research to see which one fits your needs fixed rate mortgages provide you with the security of knowing that your rate won t change and how much you ll have to pay keep in mind that you won t benefit if rates drop which means you will pay more during an economic slowdown 