Your mortgage rate may never be exactly what you want --- free --- but its stability may be a close second. When you're requesting mortgage quotes, you will come across two different types of mortgage rates. Adjustable mortgage rates offer fluctuating mortgage rates and fixed mortgage rates offer a stable, consistent mortgage rate every month. Both have pros and cons, so this decision is one you should research thoroughly.

Fixed rate mortgages are a good idea if you like to know exactly what your expenses will be month to month. A fixed rate mortgage will offer you a mortgage rate that will be the same throughout the term of the mortgage or home loan. Fixed rate mortgages are possible with any type of mortgage, including second mortgages and home equity loans, bad credit mortgages, mortgage refinancing, first mortgages, and home loans, but if you're applying for a VA loan, the Veterans Affairs office agrees to help you secure a fixed rate mortgage as a benefit of being eligible for the VA loan program.

Even if you're not pursuing a VA loan, a fixed rate mortgage is still an option. It's a good idea to shop around for a mortgage quote to be sure you can find a lender or mortgage company that will offer you the best fixed rate mortgage you can get. If you already have a mortgage and are looking to refinance it, you can work with your lender to obtain a lower rate fixed mortgage, whether you currently have a fixed rate mortgage or an adjustable rate mortgage. When you're looking to refinance your mortgage, you'll be able to get a quote to see if you can improve your mortgage rates. A stable fixed rate will probably be a good idea if you're wary of market forces or if you're content knowing that your mortgage rate cannot down, but also cannot go up if the market changes.