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Animal Spirits Podcast cover image

Boomers vs. Millennials (EP.373)

Animal Spirits Podcast

NOTE

Embrace Flexibility in Mortgage Choices

Adjustable rate mortgages may offer financial advantages during periods of declining interest rates, yet many people still opt for fixed rates, often due to a lack of understanding. This signifies a broader issue where fixed-rate mortgages are prevalent in certain countries due to historical factors, such as the Great Depression. During this time, significant mortgage defaults led to stricter lending standards, resulting in shorter loan terms and substantial down payments. Understanding these historical contexts can inform current mortgage decisions.

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