Borrowers, however, still need to repay their mortgages.When the Federal Deposit Insurance Corp. seizes a bank, it reimburses most of the savers. Moreover, asking your lender whether a if fixed or adjustable is important when you're on the look out for the best mortgage rate. Remember that adjustable rates, despite their low interest rates, might not have the best mortgage rates. Adjustable rate mortgages only have low interest rates in their first year, after which, rates either tend to go up or go down.
