Catherine,Thanks for the information. I did stumble on to the Mortgage Professor's site--good stuff!As for my "comprehensive knowledge", I fear that this is not an ailment I suffer from. Words are part of my day job and I'm able to use them to cover up my considerable ignorance!I especially appreciated your experience on the spread. In a reply to Dave, I asked about the details of the combo loan, I'll certainly use your insights to guide me. As I said (I think), I intend to use a mortgage broker, but want to come to that relationship as informed as possible. Now I know to look for a spread ranging from .75 (fantasy) to 1.5.Still in the "looking for advice mode", I'd say that we intend to hold this next house for at least 11 years (youngest off to college). As for interest rate risk tolerance, I'd think that deference to the experts ought to be my guide. Assuming that I go with an ARM in part or whole (if using a combo loan), I think I want to give myself enough of a window for rates to fluctuate so that I can watch them go back up (the current direction) and then lock in on a fixed rate once they come back down...right?Thanks again.--Jake
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