“On my house and four rentals I have all adjustable mortgages and everything is going great. The rates vary from 2.5% to 3.5% and you can’t touch rates like that on fixed rates.”
You didn’t ask, but I’m going to give you some advice.
The conventional wisdom is that rates will go up in the near to mid-future. With five adjustable loans, I feel you have way too much exposure should rates indeed go up.
You should refinance at least two (and as many as all) of those into today’s low fixed rates. That way you’re not facing a catastrophic situation of five mortgage payments shooting up should rates rise more than 2%.
Just my advice.