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Fixed Rate Mortgage

Navigation:  Home > Mortgage> Fixed Rate Mortgage

 

With a fixed rate mortgage, the interest rate is set, or locked in, when the mortgage is taken out and remains the same throughout the life of the loan. The longer the loan, the more interest one pays, but the less payments. In general, 30 years fixed rate mortgages have higher interest rates than do 15 year fixed rate mortgages.

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