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By Craig Johnson

Experts Urge People to Switch to 15-Year Fixed, and Here's Why

Combine a shorter term with one of today's low refi rates and you get a double dose of savings.

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Why do popular finance experts like Clark Howard and Suze Orman urge people to switch to a 15-year fixed home loan? They understand how a shorter term and a lower interest rate combine to bring a double-whammy of savings much bigger than what most laypeople expect. The dazzling drop in mortgage interest rates last year signaled a peak time for many...
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