Most people hate adjustable rate mortgages due to uncertainty of how much their mortgage payments can fluctuate when the teaser rate expires. Having a fixed rate mortgage gives borrowers a peace of mind their principal and interest portion of their mortgage payment always stays the same. This is particularly important for fixed income borrowers. On the other hand, adjustable rate mortgages can be attractive for borrowers with risk appetites and certainty that they will either pay off their mortgage fully or sell the property before the teaser rate starts to adjust.