Asked by MeghanCambridge, Cambridge, MA • Thu Mar 21, 2013
My husband and I have always planned to put 20% down to avoid a PMI, but lately I have gotten nervous about interest rates rising in 2014-2015. If we've got 15% down payment for a $400K house now, but choose to wait until we hit 20% in 18 months or so, will the heightened interest rates undermine our plan? would it be wiser to pay the short term PMI to avoid long-term higher interest?
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