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While interest rates have been historically low for the past 8 years, rates are expected to begin to increase over the coming couple of years.
While interest rates have been historically low for the past 8 years, rates are expected to begin to increase over the coming couple of years. Given the interest rate environment, which type of mortgage would be best for your new home?
A 5 year adjustable ARM | ||
A 30 year conventional fixed rate mortgage | ||
Variable rate interest only mortgage since the payments would be the lowest | ||
A one year adjustable ARM with a 6% cap |
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