Personal Finance , ,

Which Is Better : 15-Year Fixed Rate Mortgage Or 30-Year Fixed Rate Mortgage?

As a home buyer or refinancing household in Morgan Hill , you have choices with respect to your mortgage. You can choose a loan with accompanying discount points in exchange for lower mortgage rates; you can choose adjustable-rate loans over fixed rate ones; and, you can choose loans with principal + interest repayment schedules or repayments which are interest only, as examples. For borrowers using fixed rate loans, there's also the choice between the 30-year and 15-year fixed rate mortgage. Each has its positives and negatives and neither is "better" than the other. Choosing your most appropriate fixed-rate term is a…
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Mortgage Rates , ,

Reduce Long-Term Loan Costs With A 15-Year Fixed Rate Mortgage

For as low as 30-year fixed rate mortgage rates are in California today, 15-year fixed rate mortgage rates are even lower. According to Freddie Mac's weekly mortgage rate survey, the average 15-year fixed rate mortgage rate is now 3.27% nationwide with an accompanying 0.8 discount points. 1 discount point is a closing cost equal to 1 percent of your loan size. The current 15-year fixed rate reading is just one tick above the all-time, 15-year fixed rate mortgage low of 3.26% set in October 2011. If you've ever thought of "going 15", it's a terrific time to talk to your…
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