Of all of the mortgage products out there, the 30–year, fixed–rate mortgage reigns as the most popular.
It's been the favorite for years for several reasons:
The 30–year, fixed–rate mortgage not only helps make homeownership possible and sustainable for more people, but also helps keep communities stable. Some proof: During the recent economic crisis, home prices fell the least in markets where the most borrowers took out fixed–rate mortgages.
Of course, different homebuyers have different needs. That's why a range of mortgage products are available. Go to My Home by Freddie Mac® to learn about various mortgage products — including the 30–year fixed–rate mortgage — and how to find the right one for you.
Have a comment or question about this post? Email us to let us know what's on your mind.