7654321Options when mortgage rates riseMortgage rates went up about half a percentage point in May 2013. That presents a dilemma for homebuyers and homeowners who want to refinance: Pay more each month or find a way to reduce the cost.The solutions are few, and the trade-offs many, yet borrowers do have some options in addition to the traditional 30-year fixed-rate mortgage. Here are the pros and cons of each. 7654321
Mortgage rates went up about half a percentage point in May 2013. That presents a dilemma for homebuyers and homeowners who want to refinance: Pay more each month or find a way to reduce the cost.
The solutions are few, and the trade-offs many, yet borrowers do have some options in addition to the traditional 30-year fixed-rate mortgage. Here are the pros and cons of each.
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