What are the risks of variable rate mortgages?

Managing Real Estate Broker with Maxus Realty Group of Samson Properties Broker - Realtor - CEO

Maxus Realty Group Agents are local specialists with knowledge to help you buy and sell the right home, at the right price.

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Today, we'll talk about What are the risks of variable rate mortgages?



With mortgage rates  going up in the first few months of this year, I can understand why home buyers in the next few months would be considering choosing a variable rate mortgage instead of a fixed rate. 

One of the main reasons why anyone would take on  a variable rate is to save money. 


Variable-rate mortgages can change in line with changes in the prime rate, unlike fixed-rate mortgages.

The rates are much lower than a fixed rate mortgage and there are benefits that could be beneficial to some buyers,

But they could also cost you a lot of money if you do not plan it well...



READ MORE: https://www.maxusrealtygroup.com/blog/2562/What+Are+The+Risks+Of+Variable+Rate+Mortgages+

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