Should I refinance my home from an adjustable to a fixed rate? - Affordable Reverse Mortgages

Question by Tad M: Should I refinance my home from an adjustable to a fixed rate?
I have an adjustable loan that is currently 3 1 / 4% for next year with a balance of 326K. My bank has offered a 25-year fixed loan at 4.875%, no closing costs, points, etc. It’s a good idea for me to refinance?

Best answer:

Reply by Vic J
My advice is to go with the fixed rate, especially without closure.
The Fed is raising rates and new tax laws coming into force will send the variable mortgage rates sky high.