Savvy Borrowers Are Straying from 30-Year Fixed Rate Mortgages
Today’s affluent homeowners are moving further away from traditional 30- and 15-year fixed rate mortgages and instead are choosing less traditional products, like Option ARMs (adjustable rate mortgages) and interest-only mortgages to enhance their financial situations. This trend has started catching on among educated homeowners, who are following suit in an effort to better position their financial assets.
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