arm: I Feel Good or How I Learned to Stop Worrying and Love my Fixed-Rate Mortgage
- 07/27/07 08:17 AM
When it comes to fixed vs. adjustable rate mortgages, there really is no question as fixed-rate mortgages are the way to go! Opponents of this position will argue all the finer points of their ARM products and how the v buyer can more greatly benefit from them. That may even be a valid argument for a minuscule percentage of their clients but the vast majority of that clientele would be better suited to a fixed-rate product. Holden Lewis of Bankrate.com reported recently that, of the 8.4 million ARM's originated between 2004-2006, 1.1 million of them will default due to payment shock from resetting. … (12 comments)
When it comes to fixed vs. adjustable rate mortgages, there really is no question as fixed-rate mortgages are the way to go! Opponents of this position will argue all the finer points of their ARM products and how the v buyer can more greatly benefit from them. That may even be a valid argument for a minuscule percentage of their clients but the vast majority of that clientele would be better suited to a fixed-rate product. ;)
;)
