While interest rates have been historically low for the past 8 years, rates have started to increase and may continue to rise over the coming year. Given the interest rate environment, which type of mortgage would be best for your new home?

Question

Quizplus · Accepted Answer

A 30-year conventional fixed-rate mortgage is the best option in a rising interest rate environment because it locks in the current low rates for the entire term of the loan, protecting the borrower from future rate increases.

While Interest Rates Have Been Historically Low for the Past