Quote:
Originally Posted by Brannigans Law
The more I read about this stuff the more I think I'd be smart to take the 10 years @ 3.6%. I really think that by the time 2020 rolls around mortgage rates will be around 5%.
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I just bought a house last week and considered a 7 or 10 year term.
What really concerned me was how massive the penalties would be if I wanted/needed to break the mortgage. I opted to just go with a 5-year fixed and hope for the best.
I agree that 2020 will probably see rates of 5%, give or take 0.5%.