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mortgage rates

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A mortgage (often used synonymously with mortgage loan) is a loan borrowed against a form of real property such as a home or building.

There are different variables of a mortgage loan which include: the mortgage rates, the amount of the mortgage, the maturity date and the re-payment methods.

Most home buyers seek out a home mortgage loan because it is rare where an individual or family has enough savings or liquid assets to purchase a home outright.

The two types of mortgages include fixed rate mortgages (FRM) and adjustable rate mortgages (ARM), and some loans are a combination of the two.

With a FRM the mortgage rate stays the same for the term of the mortgage. With an ARM the mortgage rate will generally stay the same for a fixed amount of time, at which time it will periodically (annually or monthly for example) adjust in either direction based on current market rates.

You’ll find bloggers talking about mortgage rates at sites like realestatearticles.org and homesandcondosblog.com.

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