Comparison shopping is easier than ever, thanks to the Internet.
But there are still lots of decisions to make. Actually, this spring the choice is not as complicated as it has been other years. An unusual phenomenon known as an inverted yield curve makes the traditional 30-year fixed loan the best choice for most borrowers, even though these rates have gone up to about 8.3 percent, compared with 7.1 percent a year ago. That percentage would be even higher if it were not for rising home prices, which have forced many borrowers to resort to adjustable mortgages in order to qualify for loans, he said. The lower monthly payment initially charged on an adjustable allows a borrower to get a bigger loan.