It doesn't make much sense, does it? Why would the buyer with the smaller down payment (and therefore the riskier borrower) would benefit from lower rates?
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As you know, variable rate mortgages, lines of credit and/or student loans are all based on the Prime Rate. Many of you might be asking should I lock in my variable rate mortgage?This is not an easy question to answer. Why? Because, just like when purchasing a property, everyone’s own personal situation is different.
Here are 3 main points to consider before you jump to action: 1. Your current variable interest rate 2. Your future goals and housing/mortgage plans, and 3. Your potential new fixed rate Let’s explore these in more detail... |
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