While Interest Rates Have Been Historically Low for the Past

While interest rates have been historically low for the past 8 years,rates are expected to begin to increase over the coming couple of years.Given the interest rate environment,which type of mortgage would be best for your new home?

A) Variable rate interest only mortgage since the payments would be the lowest
B) A 5 year adjustable ARM
C) A 30 year conventional fixed rate mortgage
D) A one year adjustable ARM with a 6% cap

Correct Answer:

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