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Today: 17.01.2018 - 14:33:21
   Canada Mortgage Hub Discussion Board -> Mortgage Rates Canada -> To what extent can adjustable-rate mortgages prove useful considering the highly volatile markets in Canada,US?
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norinori

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To what extent can adjustable-rate mortgages prove useful considering the highly volatile markets in Canada,US?
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Becoming a mortgage broker
Post # 1.

njzazz64

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Interest rates will go up - no doubt about that.Money Magazine stated that they could double in as little as 5 years.If you do an ARM - your interest portion of your payment could easily double.Conclusion:Run, and run away fast from Adjustable rates, options, variable rates, 5/1's, and 5/5's.Don't let the bank scam you - people need to get smart and stay away from these loans.I wish the government would just educate people on this once and for all - or just make the illegal./
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rjn128

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As has ALWAYS been the situation, adjustable rate mortgages make sense ONLY when a buyer knows in advance that he will be selling the property before the rate is to adjust. And making such a decision requires a rather accurate crystal ball. Other than such a scenario, adjustable rate mortgages are only for those who wish to gamble future financial situations.
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pachuco8

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Adjustable-rate mortgages can be a good deal and fixed-rate mortgages are not good in all circumstances. Mortgage design does not always result in higher defaults in nations which had facing higher volatility of house prices. Role of mortgage product in mortgage default is limited and the dominant role of adjustable-rate mortgages helps in keeping the default rates lower.
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