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Stable Monthly Housing Costs
When you rent a place
to live, you can certainly expect your rent to increase each year – or
even more often. If you get a fixed rate mortgage when you buy a home,
you have the same monthly payment amount for thirty years. Even if you
get an adjustable rate mortgage, your payment will stay within a certain
range for the entire life of the mortgage – and interest rates aren’t as
volatile now as they were in the late seventies and early eighties.
Imagine how much rent
might be ten, fifteen, or even thirty years from now? Which makes more
sense?
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