During the mortgage crisis, the vast majority of jumbos were adjustable-rate mortgages and hybrid adjustable-rate mortgages, which started at low fixed rates and switched to adjustable interest rates at the end of a set time period typically of five, seven or 10 years, said Keith Gumbinger, vice president at HSH.com, a mortgage-information website.

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For a long time, financial experts have recommended fixed rate mortgages over adjustable rate mortgages.

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Mortgages can come with fixed, variable and adjustable interest rates, and typically offer longer terms of repayment than home equity loans.

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