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Journal Journal: Truth about 30 yr "Fixed" Mortgages: NOT Fixed

Mortgage Bankers have a Dirty Little Secret. that Secret is there is NO SUCH THING as a "fixed" Mortgage in Reality. A 30 year fixed mortgage for $200,000.00 at 6% in reality can carry a "true" interest rate of 35% or more and fluctates daily. The minimum interest rate you will pay in this scenario is 6% and that is ONLY if you stay in this same mortgage for the full 30 years.


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He keeps differentiating, flying off on a tangent.