Source: The Ascent —
If you’re looking to buy a home this year, the good news is that mortgage rates are still fairly competitive from a historical standpoint. The bad news, however, is that they’ve started the year off higher. And there’s a good chance rates will continue to rise as 2022 moves along.
All things considered, it pays to consider a 15-year mortgage this year, if you can afford one. Not only will a 15-year loan leave you mortgage-free sooner, but you might save yourself a substantial amount of money on interest.