You are better off regardless of how much your interest rate is, as long as it is fixed. If your mortgage payments are fixed, but your pay increases with inflation, your real monthly mortgage payment goes down over time.
Eg, if your mortgage is $1000/mo, but at the end of this year a cheeseburger costs $1000, then your mortgage payment is the same cost as a cheeseburger. Doesn’t matter if the interest rate you got originally was 1% or 99%.
You are better off regardless of how much your interest rate is, as long as it is fixed. If your mortgage payments are fixed, but your pay increases with inflation, your real monthly mortgage payment goes down over time.
Eg, if your mortgage is $1000/mo, but at the end of this year a cheeseburger costs $1000, then your mortgage payment is the same cost as a cheeseburger. Doesn’t matter if the interest rate you got originally was 1% or 99%.