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Thanksgiving is like a fixed rate mortgage

Posted by on Friday, November 17th, 2017 at 4:22pm.

Written by Robert H. Ruth

Thanksgiving is like a fixed rate mortgage

I have to admit that my favorite Holiday is Thanksgiving.

I love the food: turkey and dressing …mashed potatoes slathered with gravy …mmm!

I love going for a run or a long walk in the late morning, and the smells that greet me when I come home are intoxicatingly good. Maybe the crisp, late fall air that I come in from enhances the aromas from the kitchen.  

I also love the traditions of Thanksgiving, knowing that the roasting pan we use belonged to my mother in law. I can’t help but think that it holds not only the flavors of the turkey, but the memories of all those Thanksgivings past, and I feel like she is still at the table with us, sharing her love and stories of the past. I love using my parent’s good silverware and the knowledge that certain relatives will always prepare the same dish they bring every year to share. I look forward to tasting my sister in law’s zucchini casserole and the sweets my brother in law prepares.  

I love the fact that the meal is usually a communal effort, everyone pitching in to pull it all together. It reminds me that food is divisible, meant to be mixed together and shared, and hopefully there will be some left over for tomorrow or to give to someone else to take home.

But my favorite part of Thanksgiving is sitting around the table after dinner, laughing and sharing family. Sitting together and sharing old memories and stories, jokes and remembrances. All these things are stirred together and dumped out around the table and renewed each year.  It is so wonderful to be able to share this great American Holiday together.

I also cannot help but be humbled by the fact that I get to celebrate this Holiday around a table in my own home or one of my relatives’ homes. In our country we are so fortunate to be able to live in a home that we can own…and make no mistake, owning a home is a real American dream.  A home is a safe harbor for your family, a place where children are raised and life is celebrated. A home is a place where love is renewed constantly just in the daily act of living and sharing. Being able to own a home binds a family together.

So at this point I’m sure you’re saying: what does all this have to do with a fixed rate mortgage?

Well, I’m thinking that a fixed rate mortgage, like Thanksgiving, is predictable.

With a fixed rate mortgage you have the comfort of knowing that your payment will never go up …it will always be the same, just like Thanksgiving dinner. Just like Thanksgiving dinner, a fixed rate mortgage is reliable.  It is the same month after month, year after year.

You can budget with a fixed rate mortgage. It is easier to plan for expenses and household costs if you know what your housing expenses will be … always. And over time, as your income grows, budgeting becomes easier, just as planning for and preparing Thanksgiving dinner becomes easier with experience.

Being able to budget will enable you to plan for the future because with a fixed rate mortgage you’ll know what your housing expense will be well into the future. A fixed rate will make it easier to save for your children’s college or wedding or your own retirement.

A fixed rate mortgage is a uniquely American concept. In many other counties, the interest rate is only set for a brief time period, and after only a few years, you have to go in and re-negotiate the terms of the loan all over again, often paying more money down on the loan. And in most countries you cannot buy a house with a low down payment like we can do here in the United States. And only in America can you fix the rate for 30 years. That is unheard of outside of our country.

So just like Thanksgiving, a fixed rate mortgage is a uniquely American institution. One that deserves to be protected for all time, so future generations can live in the comfort of their own homes and share Thanksgiving dinner and family around their own table just like we do.

So I wish you all the very best Thanksgiving ever…but hey, before you go back into the kitchen, ask Uncle Jimmy to pass the cranberries, OK?

Robert H. Ruth
Senior Mortgage Banker
Direct: 401.789.4441
Mobile: 401.743.4364

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