 TITLE: What’s the Difference Between Fixed-Rate and Adjustable-Rate Mortgages? CONTENT: How Do Fixed Rate Mortgages Work?\n---------------------------------\nA fixed-rate mortgage is the most popular type of mortgage loan, and its interest rate stays the same for the entire life of the loan. These loans most often come in 30-year terms, but you can also find them with terms of 10, 15 or 20 years. The shorter the term, the lower the interest rate—but the higher the monthly payment since the loan is repaid in a more compact time frame. END