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Motley Fool
This Is the One Type of Mortgage You Might Sorely Regret
Now often, if you sign up for an adjustable-rate mortgage, or ARM, you’ll snag a lower interest rate initially than you might get with a fixed-rate loan. As of this writing, the average 30-year mortgage rate is 5.668%, while the average 7/1 ARM rate is 4.847%. Clearly, the latter is a much lower interest rate.
