Are adjustable-rate mortgages worth considering right now? Here's what experts say

MoneyWatch: Managing Your Money Are adjustable-rate mortgages worth considering right now? Here's what experts say We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Aly J Yale Aly J Yale Aly J. Yale is a contributing writer for the Managing Your Money section for CBSNews.com, covering various personal finance topics, including investing, homebuying, loans and more. Read Full Bio Aly J Yale May 15, 2026 / 10:21 AM EDT / CBS News Add CBS News on Google Adjustable-rate mortgages can offer big benefits to borrowers, but they aren't always the right move. Nora Carol Photography/Getty Images Though mortgage rates have bounced around lately, rising and then falling shortly after, overall, these borrowing rates have remained in the 6% range for the better part of the last few years — at least on 30-year conventional fixed-rate mortgage loans. This rate landscape, in turn, hasn't been particularly enticing to borrowers, many of whom would prefer for rates to drop closer to the 3% range that was common at the height of the pandemic.Adjustable-rate mortgage (ARM) loans, on the other hand, are another story entirely. These loans come with variable rates that are lower overall, which can make them seem like a better deal, at least on the surface. Case in point? The average rate on a 5/1 adjustable-rate mortgage was just 5.60% last week, according to the Mortgage Bankers Association. For buyers and borrowers on a tight budget, that 1% difference can look pretty tempting. But ARMs come with numerous risks to consider — especially in today's economy. So, should you consider one for your home purchase or refinance? Here's what experts have to say about it.Find out how affordable the right mortgage loan could be today.Why adjustable-rate mortgages could be worth considering now, expe...