Fixed Rate Or Variable Rate Mortgage, Which Is Best For You?Map Man, · Categories: mortgages · Tags: fixed rate mortagage, mortgages, variable rate mortgage
Several years ago, after the housing bust, anyone that chose to entertain the idea of a new variable rate mortgage would have likely been called a fool. It was almost as if adjustable rate mortgages were on the way out entirely, but it's not the product that is necessarily bad. These mortgages just so happened to be part of the equation and acted as fuel for subprime lending when real estate was booming. Nowadays, variable rate mortgages have a much different face, yet many people are still wary of them and for good reason. It's not easy to turn around and accept that these types of mortgages are okay.