Homebuyers can choose certainly one of various types of loans, and repaired-rates and you may variable-price mortgage loans Which have a varying-rates mortgage, homeowners could get lower rates or perhaps the choice out-of down rates of interest later. As opposed to a fixed interest rate, the interest prices off a changeable-rates home loan is actually fixed so you can a specific standard otherwise source speed, for instance the finest rates, London Interbank considering rates (LIBOR), or individuals costs into the U.S. Treasury expense and you can cards. 13521