Posted on
September 22, 2008
at
4:50 pm
Why would anyone take anything but a Fixed mortgage interest rate? I'm curious to know why people would take a rate that can move up and down? Wouldn't they be afraid that it would go up more often - causing the payment to go up as well?Is this something that people choose? or something that they have to take in order to get a mortgage loan?
Posted on
March 20, 2009
at
6:26 am
I have learned a lot through this forum and Clark Howard. In the future I will "shop around" for a mortgage company. Also, I will definitely work towards a "fixed" rate.
Posted on
March 20, 2009
at
9:06 am
I'm in a different country to most of you and I prefer the variable rate. Over here our fixed rates are almost always higher than the variable rates, so in the longer term I've managed to save quite a bit of money by being careful to watch where the rates go and stay on top of them.
Posted on
March 21, 2009
at
9:41 pm
I would prefer fixed as it is more dependable. You know exactly how much you need to pay to stay on top of the rates.
Posted on
March 21, 2009
at
11:05 pm
I agree. I would definitely prefer fixed.
Posted on
March 24, 2009
at
4:21 pm
If I had the money, I'd avoid a mortgage altogether and just buy the house outright. Not sure that I will ever have an extra couple hundred thousand dollars lying around to make that purchase.Till then I'm biding my time and looking for foreclosure properties or cheaper rent.
Posted on
April 6, 2009
at
3:55 pm
The floating interest will lead to the excess interst only as in most of the cases, it is always increasing. Only in rare cases and that too for a short period, the interest will be lowered.
Posted on
April 6, 2009
at
7:54 pm
I would never have anything besides a fixed rate mortgage. I need to know exactly what my bills are going to be every month and every year, at least the biggies. With a fixed rate you don't have any surprises, good or bad.
