15-Year Mortgages Are Astonishingly Cheap
How cheap are 15-year fixed-rate mortgages today? The answer may surprise you.
The fact is, 15-year FRMs now cost less (in annual interest rates) than do 1-year adjustable rate mortgages. In other words, it's now truly cheaper to take out a mortgage guaranteed to not go up for the next 15 years, than it is to take out a mortgage that could spike through the ceiling as soon as 366 days from now.
What should you do with this information? Fool contributor Rich Smith explains.
Fixed-rate mortgages aren't the only places to find low risk selling for low prices. Solid companies selling at depressed prices have consistently helped generations of the world's most successful investors preserve capital, minimize risk, and achieve long-term, market-trampling returns. For one such company, read our free report: "The One REMARKABLE Stock to Own Now." Just click here to get started.
The article 15-Year Mortgages Are Astonishingly Cheap originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.