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2 Comments Already

April 10th, 2009 @1:22 am  

Agreed people need to look at the facts and make up their own minds. But unless you know you are going to sell the house in a short time, I think you are crazy not to go with a fixed rate mortgage.

Bob Sloan Said,
April 27th, 2009 @7:27 pm  

Having a Variable rate mortgage is very cheap right now, but what happens when the economical wheels are running again? This rate can easily rise to about 8-10 % within 2-3 years.
“well, i will just convert to a fixed rate then” u might say, but what if the price of your house has gone down? Then the bank will only refinance some of it, leaving u with worries about financing the rest.

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