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What Are the Benefits/Drawbacks of Fixed- vs. Variable-Rate Mortgages?

April 26, 2017Benefits drawbacks mortgages variable-rate vs

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What Are the Benefits/Drawbacks of Fixed- vs. Variable-Rate Mortgages?

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Fixed-rate mortgages offer a stable interest rate over the life of the loan. Variable-rate mortgages may present the benefit of a lower interest rate during the earlier payment periods, but the rate typically escalates, resulting in higher mortgage payments in future periods.