Stable Monthly Housing Costs
When you rent a place to live, you can
certainly expect your rent to increase each year – or even
more often. If you get a fixed rate mortgage when you buy a
home, you have the same monthly payment amount for thirty
years. Even if you get an adjustable rate mortgage, your
payment will stay within a certain range for the entire life
of the mortgage – and interest rates aren’t as volatile now
as they were in the late seventies and early eighties.
Imagine how much rent might be ten, fifteen, or even thirty
years from now? Which makes more sense?