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Fixed-or-Variable-Mortgage_thumb[3] Getting the absolute, unequivocal, undisputed rock-bottom best rate creates sheer pleasure for some.

Choosing the best term is usually secondary.

Anyone who understands an amortization table, however, will tell you, without hesitation, that these priorities should be completely reversed.

“Beating the system” and squeezing that extra 0.10% of blood from the lender’s stone is dandy. But it's a Pyrrhic victory if choosing the wrong term costs you 1/2 point.

More:  Analyzing Variable & Fixed Mortgage Costs

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