Adjustable Rate Mortgages on the Rise
With interest rates expected to rise, Tradition thinks locking in a 15 or 30 year mortgage is a better alternative for most people unless you plan to move in the next couple of years. Tradition’s Michael Ciccone, CFP weighs in on this question on TheStreet.com.
For his part, Michael Ciccone, a certified financial planner and associate vice president at Tradition Advisers in Summit, N.J., sees historical trends working against the return anytime soon of the super-low interest rates of recent years.
“Not only are interest rates primed to rise, but they are also currently very low compared to historical averages,” Ciccone says. “It would be unlikely to see rates at or below current levels again in the next 30 years.”
Read the entire article at TheStreet.com.
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