Reflecting on the 30-year Fixed Rate Mortgage

The sharp rise in mortgage rates from May to July of this year presents an opportunity to reflect on the merits of one pillar of the US mortgage finance system; the 30-year fixed rate mortgage.  The 30-year FRM has many positive and a few negative qualities, but its role in the U.S. system is central and provides consumers with multiple important benefits.  Additional options and alternatives for a stable long-term financing product could only benefit the system, but it is important to maintain one that works….read more

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