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What’s the difference between a 15 and 30 year fixed mortage? An adjustable rate mortgage?

01-Jul-08

The world of mortgages can be a bit confusing with all the different terminology, jargon and rates. It gets even more interesting when the acronyms come into play - ARM, FRM, RAM, APR, just to name a few. One reader asked the difference between a 15-year and a 30-year fixed rate mortgage. [...]

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