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In terms of paying less in interest over the full term of the mortgage, which is more economical for amortgage : 25-year fixed at 8.00%
In terms of paying less in interest over the full term of the mortgage, which is more economical for amortgage : 25-year fixed at 8.00% or 15-year fixed at 7.50%?
a.The 15-year fixed rate at at 7.50% is more economical.
b.The 25-year fixed rate at at 8.00% is more economical.
c.They are the same.
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