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You are buying a house and can lock in an annual rate for the next 10 years of 4%. Alternatively you can take out a
You are buying a house and can lock in an annual rate for the next 10 years of 4%. Alternatively you can take out a mortgage where the rate is set for the next five years at 3%, and then will re-set for the following 5 years. Approximately, how high would rates have to go to make the adjustable strategy less desirable? |
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