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Fixed-rate mortgages offer more stability over time compared to adjustable-rate mortgages, but adjustable-rate mortgages can sometimes offer lower interest rates upfront.
Source: https://www.cnet.com/personal-finance/mortgages/todays-mortgage-rates-for-april-5-2023-rates-fall/
Fixed-rate mortgages offer more stability over time compared to adjustable-rate mortgages, but adjustable-rate mortgages can sometimes offer lower interest rates upfront.
Source: https://www.cnet.com/personal-finance/mortgages/todays-mortgage-rates-for-april-5-2023-rates-fall/
For variable rates, the 5/1 adjustable-rate mortgage also trended upward.
However, you could get a better deal with an adjustable-rate mortgage if you only intend to keep your home for a few years.
The average rate of the most common type of variable-rate mortgage, the 5/1 adjustable-rate mortgage, inched up.