Despite enticing alternatives, a fixed-rate mortgage remains the best option for us.
With mortgage interest rates still close to 7%, alternative mortgages like adjustable-rate loans and mortgages with shorter maturities are gaining in popularity.
AdvertisementThe beauty of the fixed-rate mortgage is that it offers certainty in an uncertain world.
Any gain somebody might get with a lower interest rate might be offset by paying more for the house.
So, we will be sticking with a fixed-rate mortgage and shopping around for the best rate.
Persons:
—, Sarah Alvarez, Alvarez, Brandon Bell, Freddie Mac
Organizations:
Service, William, Mortgage, Business, ARM, Treasury, Street Journal, FG, National Association of Realtors
Locations:
Austin , Texas