Is it better to get a fixed rate mortgage or adjustable rate?
I’ve heard you can get a low rate initially on an adjustable rate but then it jumps up. But I also heard there is a cap on how far it can go and it works out better. How do you choose?
Are Adjustable Rate Mortgages to blame… It seems that the people that purchased their homes with Adjustable Rate Mortgages got into big trouble when their rates adjusted at a higher rate. Did they not see this coming since they did opt for a Adjustable Rate Mortgages vs a Fixed Rate Mortgage. Also do people with Fixed Rate Mortgages having the same problem as Adjustable Rate Mortgages…. Adjustable rate mortgage? My current rate on an adjustable rate mortgage is 10%. The ARM is up in April - I was wondering - this would benefit me right? That would mean that my rate will come down to the rates that are low right now, right? I did get screwed initially - but can I refi if my condo is worth WAY…. Should I change my mortgage from an… I'm afraid my adjustable rate loan will continue to rise. Does anyone know what the market conditions are saying as far as interest rates? I'm thinking I might want to refinance to a fixed rate.. What are the pros and cons of a fixed… Being that it is a new year one of my resolutions was to do more research before a jumped into anything. Being that I'm new to the housing market what are the benefits of a fixed rate mortgage compared to an adjustable rate?.