When you rent a place to live, you can certainly expect your rent to increase each year – or even more often. If you get a fixed rate mortgage when you buy your own home, you have the same monthly payment amount for twenty to thirty years. Even if you get an adjustable rate mortgage, your payment will stay within a certain range for the entire life of the mortgage – and interest rates aren’t as volatile now as they were in the late seventies and early eighties.

Imagine how much rent you will be paying ten, fifteen, or even thirty years from now? Think it over, which makes more sense?

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