Jul 18, 2016
Will fixed rate loans become extinct?
Seeking Alpha published an op ed last week about the 30 year fixed rate mortgage. It was a very interesting read and brought up the idea that we may see the end of the fixed rate mortgage. That's right, within the next few years, you may have no option but to get a variable rate mortgage. Most people are not aware that the 30 year fixed rate mortgage is a uniquely American creation. Is was created in the late 1930s by the government and is linked directly to Fannie Mae and Freddie Mac.
With the future of the government sponsored entities in question, we must also consider the very real idea that the 30 year fixed rate mortgage will also go away.
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