Q: What’s better, a 30-year fixed-rate mortgage or an adjustable-rate loan? (Louisville Courier-Journal)

A: The interest and principal payments on a fixed-rate mortgage won’t change. An adjustable mortgage often carries a slightly lower interest rate, but it will reset after a certain period, usually between one and seven years.

More: continued here

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May 20 2008 07:05 pm | Home Loan Mortgage Blog

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