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24 July, 21:43

What is one difference between fixed rate mortgages and variable rate mortgages

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  1. 25 July, 01:28
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    With a fixed rate mortgage, the interest rate is set when you take out the loan and will not change. With an adjustable rate mortgage (ARM), the interest rate may go up or down. Many ARMs will start at a lower interest rate than fixed rate mortgages. This initial rate may stay the same for months or years.
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