When I refinanced my 30 year fixed a long while back, I had a choice of 15 or 30 year terms. 15 year was a little lower, but your right that it wasn't much but it was a little lower--so that's what I took. But it was a pretty modest mortgage at that point (when I bought the house it was pretty much a fixer-upper) so I wasn't really worried about making payments. Getting a 30 year as an insurance policy is probably the right answer for many people even if it costs a bit more.
>but if you had a 3% mortgage, you would have better returns taking the 30 year and investing the difference each month
That would have been a good strategy over last decade certainly. Though that's hindsight and you're effectively taking out a loan and investing the money.
>but if you had a 3% mortgage, you would have better returns taking the 30 year and investing the difference each month
That would have been a good strategy over last decade certainly. Though that's hindsight and you're effectively taking out a loan and investing the money.