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With low interest rates, what should I choose a maximum of one year fixed mortgage for 5?
Because interest rates on mortgages are low, "I might make a mortgage greater than if prices are higher. But if I take a 5-year fixed mortgage, I do not want to be stuck with a house, I can not in 5 years if rates rise. So what is the general rule for choosing a maximum mortgage amount?
I never heard of a mortgage 5 years, and if you can afford to pay a house in 5 years, just save your money for 5 years and pay cash and reduce interest costs if you spend over 40% your net pay on the mortgage and taxes, then it is too
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