Quote:
Originally Posted by Monahammer
They are making stupid changes that just accelerate the problem and ultimately send housing prices up. If they wanted to stabilize payments and reduce chance of default, they would fix mortgage rates for the entirety of the loan instead of max out at 5 year terms.
|
There is no max of 5 years. 7 and 10 year rates are available with pretty much all lenders but I don't think anyone signs up for those options.