Are ARMs worth it right now?

[Michael Cote]

With interest being at all-time lows right now, do ARMs make any sense? I'm about to buy a house and I'm torn between going with fixed versus adjustable. I'm in favor of the fixed mostly because of the consistency and how it hedges against the market slightly, but there are definitely perks on the adjustable side. Can anyone offer me some guidance? 

[Bryan Balducki]

@Michael Cote I am no lender and I am not giving lending advice, and you should talk to your lender, but I believe this depends on how long you want to hold the property. If you plan to hold the property for 30 years, a fixed rate might be the best option. If you are planning on selling the property in 10 years or less, an ARM might be cheaper since your rate would be lower for the first 10 years or less depending on the loan option you choose. I use fixed rate mortgages because I am a buy and hold investor. Hope this helps!