A Fixed Rate loan means your rate doesn't change over the course of your mortgage, which typically lasts for 15 or 30 years. You have the opportunity to lock in a good rate and get the consistency that allows you to better plan for your future.
Security of knowing your rate won't ever change.
No penalty for paying your loan off early.
Puts you in a good position to refinance down the road.
People who are looking to stay in their home long term.