A question on mortgages – variable vs. fixed etc…?
by Mortgage Rates on Wednesday, September 29th, 2010 | 1 Comment
-
Mortgage Info
-
Updates
-
Useful Links
-
-
Tags
2010 About article Auctions bank banks best Business buyers change Credit Debt Equity Financial First fixed Foreclosure From good Government Help Home house Housing interest Loan Loans Market more Mortgage Mortgages Need News options qualify Rate Rates refi refinance Refinancing should this Time variable would-
Meta
Your variable can increase each year. Read the fine print. It is based on the prime plus points. If the prime increases so does your mortgage. Locking in a rate means the interest rate is the same for the next 30 yrs. If you can live with the suspense and worrying about it climbing each year that is your decision. You will not find a conventional mortgage at 2.25 but more around 5.