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?

Question

Quizplus · Accepted Answer

With interest rates expected to rise, a 30 year conventional fixed rate mortgage is the best option as it provides stability in payments over the duration of the loan. Variable rate mortgages and adjustable rate mortgages, such as options A, B, and D, expose the borrower to potentially higher payments as interest rates increase.

While Interest Rates Have Been Historically Low for the Past