A fixed rate mortgage is a mortgage where the monthly interest rates are fixed at a pre-specified rate for a pre-specified period of the loan. It is common for fixed rate mortgages to have the rate fixed for 1, 2 or 3 years, after that period the rate payable will switch to refelct current interest [...]
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US consumers urged to fix mortgage rates
US consumers urged to fix mortgage rates A great article here from CNNMoney suggesting that consumers should look to lock into fixed interest mortgage deals as soon as possible. The article (click here) urges buyers to lock into fixed rate mortgages to counteract the volatile market situation and secure their mortgages over the long term. [...]