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Originally Posted by pgardn
Aha.
Thanks.
I never liked the variable rate thing. I like to know exactly how much I have to pay. Heck I hate borrowing money period. When I first bought my house in 1987 the fixed interest rate was 10.5%. I refinanced fixed at 7.5%, then I got lucky with mutual funds and just bought the dang house.
Im not a good American. I hate borrowing.
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The rates dropped so low a few years ago that a lot of people took the risk. I think for some, they don't think long term and the economy looked pretty healthy not so long ago. They see, they want. Even with the initial savings most would have been better off at prime or higher, but I'm not so sure how this affected the guy selling you the loan.