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To: Henry Volquardsen who wrote (88)	5/10/1998 10:36:00 AM
From: jlallen	Respond to of 3536

There are so many mortgage products out there now Henry there is almost no interest rate risk anymore. You can lock in for 1, 3, 5 or 7 year and then go adjustable. In addition to the cost however, I think that what you are planning to do with the house is also important. For instance, will you be staying and for how long? Is it possible you might have to move before you expect? What happens if your job situation changes and it becomes difficult to refinance? I just took a seven year fixed rate which then becomes adjustable. My job situation is fairly stable (I'm pretty sure I won't fire myself) and it is unlikely I'll move before my kids are finished with high school. I think it is also kind of like picking your investment style, it depends on how much risk you are willing to accept and being prepared to deal with the consequences. JLA