Consumption and Real Estate
Considering 15 Year Loan? Lowest Interest Rates Saves
lowest interest rates
Dr. Ted C. Jones explains why you may want to consider a 15 year mortgage instead of 30 years because you can save 15 years of payments for just a small increase monthly because the rates are so low.
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#2 written by FrogPondTV 1 year ago
@jvolstad good question. 15 year mortgages save you interest payments while building equity much faster. No debt is the Best debt. My advice is this is great time to buy a home you can afford without stretching, pay it off as quickly as possible, continue to add to your saving account for emergency funds and enjoy the pleasure of being part of a community.
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What happens when the Fed starts to raise interest rates from near 0% to 7% or 8%? Is that house still going to be worth the same?