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2 years ago

9

What is one difference between fixed rate mortgages and variable rate mortgages

1 answer:

AURORKA [14]2 years ago

4 0

The difference between a fixed rate and an adjustable rate mortgage is that, for fixed rates the interest rate is set when you take out the loan and will not change. With an adjustable rate mortgage, the interest rate may go up or down. Many ARMs will start at a lower interest rate than fixed rate mortgages.

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