Short-term fixed re-emerging as alternative
Yet, even though variable rates make sense, most borrowers are still leaning toward fixed-rate mortgages for no reason other than certainty. Consumers like to know what their mortgage rate is going to be.
The good news is there are options for risk-averse borrowers who don’t want to dive into the variable-rate waters, but still want the low rates that come with the floating products. (more…)