Entries about home loan
But if rates go up across the board, your interest rates will rise. Fortunately, many adjustable rate home mortgages come designed with a rate cap, which will limit the number of percentage points your rates can go up. The key to choosing the right loan for you is knowing how long you will be in your home and understanding your tolerance for risk. If you will only be in your home for a few years, you could save money by taking advantage of an adjustable rate mortgage that has a low fixed introductory rate for 3 to 5 years. Chances are, you will have left the house before your rates ever change.