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How to Pick the Right Mortgage

Stock quotes in this article: BAC , WM , JPM , IMB , CW  

Let's say you're ready to refinance your mortgage. But what type of loan is best for you?

Borrowers often assume that a 30-year fixed mortgage is the way to go in most cases. That's not true for everyone, however.

Depending on your circumstances and the current available rates, you could save a significant amount of money by considering different loan terms.

Deciding Between Fixed-Rate and Adjustable-Rate Mortgages

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