>>>I don't know what a heck are you talking about. Nobody takes fixed rate installments. Unless you are ex-con or something and bank would not loan you otherwise. Last time I had one was in 1997 , banks don't even offer them any more I thing.
>>>
>>>Yeah, It is all Obama's fault!
>>>If it is not Obama then it is sure Europe fault!
>>>If none works, then try Al-qaeda.
>>>
>>>Stay perplexed.
>>
>>Laying blames is exclusively your business so don't peddle it around. FYI, great majority of US homeowners take fixed-rate mortgages.
>
>Wouldn't buy a house without one. I remember the 'negative amortization' loan debacle of the 80's.

I have what is called up here, a 'variable rate' mortgage. I don't know if that's the same thing as your 'adjustable rate' mortgage, but it's worked out beautifully for me. I came off a fixed rate of about 6% when I changed to variable rate. When I changed, I decided to continue to pay the same monthly amount as I was paying - in other words pretending I still was at 6%. That was about 6 years ago, and at no time since has the variable rate come anywhere near 6% so in fact, I've been paying off my mortgage very quickly. Right now my rate is about 3.75% while I'm paying as though it's 6%. If I'd taken a fixed rate mortgage at that time, I'd be waaaay behind where I am now.