Utah County Homes for Sale - Monthly Payment Stability
One of the major advantages of owning your own home is the stability of having a stable monthly mortgage payment. In today's ever changing housing market, with the rise in foreclosures, renting a home has been the only option for many families. The supply demand for rental properties has increased the monthly payments for many renters. As a general rule rent will increase quite often even during a stable housing market.
With a fixed rate mortgage, the home owner has the luxury of establishing a stable monthly payment. This along with the tax benefits discussed in a previous blog makes for a much more desirable housing payment scenario.
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