What is better, an ARM or a fixed rate mortgage?

View your credit file based on any of the UK credit reference agencies, or all three at once
LifeLock is the only Identity Theft Prevention Solution backed by a one-million dollar guarantee!Click here to get a 10% discount.

LifeLock Identity Theft Prevention - Save 10%

To answer you second question, the best way to save in interest over the LIFE OF YOUR LOAN is to make well-timed, well-informed decisions about which "vehicle" would be the most effective AT THAT TIME. The savvy folks out there took an ARM when rates were low, and fixed it in when rates started to rise. When the market gets back to how it was five years ago, they will refinance back onto an ARM continually being proactive about their mortgage. You have to MANAGE IT just like any asset or investment.

What is better, an ARM or a fixed rate mortgage?

Fixed.

With an ARM, you have accepted the risk that interest rates will go up.

On a fixed rate mortgage, the bank keeps the risk.

What is better, an ARM or a fixed rate mortgage?

Unless you have a fixed-rate mortgage, the current mortgage interest rates are very important to deciding how much you should pay every month<!--therefore it is always a good idea to keep an eye on what the rates are doing. If interest rates should rise, so will your monthly payments and again, if interest rates were to fall, so would the amount you would have to pay.

http://mortgages-finance.awardspace.com/...

Monthly repayments made on your mortgage and the amount that was borrowed, is determined by current mortgage interest rates. Different-->companies offer different interest rates so it is a good idea to shop around for the best deal before settling on one particular lender.

First Previous 1 2 345 Next End

What is better, an ARM or a fixed rate mortgage?

Topic