A fixed-rate mortgage offers a consistent interest rate for as long as you have the loan, instead of a rate that adjusts or floats with the market. A consistent interest rate usually means you'll have a consistent mortgage payment, too.
Things to consider:
While fixed-rate loans offer a steady mortgage payment, they typically have a higher interest rate. As you weigh your options, you may want to ask yourself, "Is this my forever home, or just a place where I'll live for a few years?" That may help you determine if a fixed-rate loan is right for you.