With a fixed-rate mortgage, your interest rate stays the same during the lifetime of your loan. But with an adjustable-rate mortgage, your interest rate will change based on market conditions.  Which is right for you depends on your circumstances. If you want stable mortgage payments, a fixed-rate loan may be best. But if you hope to pay off your mortgage early or sell your home in the next three to five years, an adjustable-rate mortgage may be the best choice.