variable rates: 5 year Rates Drop Again. Should You Lock In?
- 12/22/08 12:20 PM
With many lenders and banks lowering their 5 Fixed rate to 4.99%, the question more and more consumers are asking is, “Variable or Fixed Rate what should I do?”With variable rates at prime plus 1.0% (or 4.50%) and an expected rate decrease in January what is the consumer to do.If you lock in for a longer-term fixed rate mortgage, you will have the stability of knowing exactly what your payment will be month after month. This mortgage fits the bill for most first-time home buyers.If you choose a variable rate mortgage, you can benefit from an expect rate drop in January … (2 comments)
With many lenders and banks lowering their 5 Fixed rate to 4.99%, the question more and more consumers are asking is, “Variable or Fixed Rate what should I do?”With variable rates at prime plus 1.0% (or 4.50%) and an expected rate decrease in January what is the consumer to do.If you lock in for a longer-term fixed rate mortgage, you will have the stability of knowing exactly what your payment will be month after month. This mortgage fits the bill for most first-time home buyers.If you choose a variable rate mortgage, you can benefit from an expect rate drop in January … (2 comments)
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