With mortgage rates hitting recent highs, Adjustable Rate Mortgages (ARMs) are starting to look attractive again. According to the Wall Street Journal, the current 30-year fixed-rate mortgage currently sits at 5.81%, while a 5-year Adjustable Rate Mortgage is at 4.3%. Depending on your goals, choosing one over the other could lead to substantial savings over the long term. As I stated in this article, you should consider your long-term goals when taking out a mortgage, or any other debt for that matter. How long will you be in your home? What are your future plans for your family? How will your choice of mortgage affect your other financial goals such as retirement or saving for your child's college?