Category — Interest Rates
Don’t Try to Predict Interest Rates
One of the biggest questions for homeowners to consider when shopping for a home loan is what type of loan to get: a fixed-rate or adjustable-rate mortgage. Conventional wisdom says that if interest rates are about to go up, you want to get a fixed-rate mortgage and lock in your interest rate. However, if interest rates are stable or likely to drop, an ARM is the best choice, as it enables you to take advantage of dropping interest rates.
September 8, 2009
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