Well, this is a scary thought. No more 30 year mortgages? I have to admit that three of my last four mortgages haven't been 30 yr fixed models but the last one that I plan to stick with is. I remember accepting a 'creative' mortgage product because it was what we could get, then we took another one because the interest rate was better, but in the end we wanted a 30 yr fixed because it offered security for the long haul. Have we moved away from the traditional views of home ownership to the point that we don't plan on being in a home for 30 yrs? Statistics show that we generally move an average of every five years or so. Ok, so does that mean the Brady and the Cleaver generations (who had the corner on the 30 yr mortgage market) are long gone? Maybe so, but I don't think that the 30 yr mortgage should go away. Trouble is, we might not get a choice on this one.
Click on the link below to learn:
Is it curtains for the 30-yr mortgage?
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