Current Economy

I’ve been trying to keep up with all the news on the economy lately and I’m a bit upset about the country’s financial situation. So many people are having trouble paying their bills and risk losing their homes, even though unemployment is supposedly at a reasonable rate. What’s going on?

I spoke with a friend who works in finance and has access to a number of mortgage lenders. My friend says that most people who are losing their homes have adjustable rate mortgages instead of fixed rate. I remember that the adjustable rates were lower - and very tempting - but we opted for a fixed rate instead. I just didn’t like the idea of the monthly payment changing at some point.

I’m really glad we made the choices that we did.