Money Shots: Where mortgage rates are headed in 2007

Posted Mar 30th 2007 11:25AM by Brandon Barker
Filed under: Other Issues

It's the biggest debt you'll assume in your lifetime -- unless you marry Heather Mills without a prenup -- and there are many different choices: There's the 30-year fixed rate, the 15-year ARM, the one-year ARM, the no-documentation loan (for the self-employed), the interest-only mortgage (for the lavishly self-employed) and many others.

If you have absolutely no idea which mortgage would work best for you, Bankrate.com provides a blow-by-blow Mortgage Match to help you decide. Like, if you're only going to carry the loan for five years, you might consider a 5/25 hybrid loan; and then, if you decide to stick around, just refinance. Who says life is never easy?

Before you answer, take a look at where mortgage interest rates are headed this year.

In the following video, Kiplinger Housing Editor Pat Esswein discusses the future of mortgage and home equity rates and how they will affect the housing market in 2007:

B. Brandon Barker is the author of the novel Operation EMU.

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