Which is the best mortgage rate to pick today? Fixed rate at 2.50% with option to reprice after 12 months?

I recently received this question from an FH Premium subscriber:
Hello FH, in view of current Fed action, how would u choose?
Choose a low 3 years fixed rate at 2.5%?
Or a higher rate at 2.75% with free conversion after 12 months?
For the r
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