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Data from the mortgage bankers association covering early 2016 says that fixed rate loans for terms other than 30 or 15 years primarily 20 or 10 year mortgage loans represented 18 percent of all refinances an increase of 57 percent from the previous year.

10 year fixed rate mortgage rate.

Advantages of a 10 year fixed rate home loan. Both the 10 year fixed mortgage and the adjustable rate mortgage or arm typically have lower interest rates than their longer term fixed interest counterparts. Instantly compare rates from many different lenders anonymously for 10 year fixed mortgages. Though you can get a 10 year fixed mortgage to purchase a home these are most popular for refinances.

Sort and filter until you find the best loan. A 10 year fixed rate mortgage is a home loan that can be paid off in 10 years. The big advantage of a 30 year home loan over a 10 year loan is a lower monthly payment. This rate was 2 49 yesterday and 2 52 last week.

Unlike arm loans which can have widely swinging rates monthly payments there is no tension for the homeowner who uses a frm because he knows exactly what amount constitutes the interest and also the principal payments. 10 year fixed mortgage rates.

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